Need Help?
Need professional advice for your consent to let with Fleet Mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Fleet Mortgages consent to let
- I am interested in understanding the conditions borrowers have to meet before consent to let from Fleet Mortgages is issued. Are there any restrictions on who can be issued with consent?
- My wife took out a fixed rate mortgage with Fleet Mortgages for 2 yrs and have been living in the flat for just over one year. Due relationship issues I need to relocate so I would like to let the property out. What is the best way to go about getting consent to let from Fleet Mortgages?
- My understanding is that this is a breach of Fleet Mortgages terms and conditions of mortgage if I let out my property having informed that I intend to reside there. The hope is to have the mortgage fully paid off after four years, by which time I will become the outright owner, meaning I no longer require any consent to let. Fleet Mortgages advised me I can overpay as much as I like during the agreement. I have someone who is interested in renting the property. What checks do Fleet Mortgages do and what are the chances that they are likely to do this? Can you set out implications of not getting consent to let? From what I have read there is a possibility of Fleet Mortgages levying a penalty
- I have a question concerning consent to let. The property has a mortgage against it with Fleet Mortgages (with fair amount of equity). I want to purchase and live in a second house but keep my old house and rent it out. What is the best way to fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- I took a domestic mortgage with Fleet Mortgages - about 28% equity. I am considering relocating due to a promotion and enquiring whether consent to let would be granted so I could lease out the house?
- I are considering applying to Fleet Mortgages to obtain consent to let our home, how long does it take between submitting the application to us finding a letting agent and listing our house for rent? and are there any further steps we will need to take?
- I am after further information regarding consent to let home loans, potentially moving our current mortgage with Fleet Mortgages across to a consent to let one.
- Will Fleet Mortgages issue consent to let my apartment? I currently have a residential mortgage, never been in arrears and have been with Fleet Mortgages for about since 2013. What fees am I likely to incur
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Fleet Mortgages consent to let Advice
Tax and Legal
There may be various 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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 restrictions are not strictly observed you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Fleet Mortgages your property may be repossessed