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Need professional advice for your consent to let with DB UK Bank Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to DB UK Bank consent to lease
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For the last few months I have been letting out my flat in Camden. I didn't seek consent to let. I moved to Aldershot for work relocation purposes and couldn't do a commute but was worried that DB UK Bank would charge me silly money so I decided to take the risk. I'm hoping to do the right thing now... basically continue leasing it but with consent. Can you offer any advice as to how I go about doing this?
- I've got a current mortgage with DB UK Bank coming up to 3 years and the fixed rate is about to expire. We are looking at taking equity from our present property to enable us to acquire a more substantial house and then let out the current one bed flat. The initial advice we received was that we ought to get a new residential mortgage with a consent to let - what does this mean?
- Last year my husband and I bought our council home, in SW London,recently valued at £220k. It's completely paid for from our own finances, mortgage fee. We can't sell (without repaying back a significant amount of the discount) before five years have gone by. Regardless, we would like to hold onto it as a investment property to rent out. We are considering taking out a mortgage with DB UK Bank. If DB UK Bank refuse are there lenders that will allow this and grant consent to let?
- I refinanced with DB UK Bank recently, borrowing extra with the intention of doing a loft conversion. That plan has proved not to be possible and I now intend to purchase a further property as my main home and lease the old property out with consent to let. Is that likely to result in me stitching myself up?
- So this is the scenario: I am moving to become a non-UK resident. Potentially for many years. That being said I will be on a 3 month trial period .I would like to know the criteria for consent to let from DB UK Bank and any costs to be incurred
- Hi my partner and I own and live in 2 separate properties can I obtain consent to let from DB UK Bank and let my maisonette out if I move in with her?
- Am I required to wait for consent to let to be granted on my prevailing domestic mortgage with DB UK Bank before applying for a resi mortgage on a new property?
- Am I required to obtain consent to let if I let to a family member (in my case my Dad now lives there and contributes towards the DB UK Bank mortgage)?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above DB UK Bank consent to let Info
Tax and Legal
There are numerous potential tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them could result in your insurance becoming invalid. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with DB UK Bank your property may be repossessed