Need Help?
Need professional advice for your consent to let with Keystone Property Finance? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Keystone Property Finance consent to let
- I plan to move house and I am wondering if I can get consent to let on my house then get a mortgage approval for the new house so I can effectively bid thus being chain free and then lease my property out when I move. Will my lender Keystone Property Finance grant consent to let for six months if they know I am looking to purchase a further property or only where one is relocating short term for career reasons?
- I currently have a mortgage offer with Keystone Property Finance. I anticipate that I will get keys in the next few weeks, however it looks as though I may be moved overseas for work. How likely is it for me to receive consent to let from Keystone Property Finance within a few months of drawing down on the mortgage. Do I have any other options?
- Is it possible to change a standard mortgage with Keystone Property Finance to a consent to let. It will be less than 70% ltv and it would change from repayment to an interest only mortgage?
- I am looking for our family to move to give us all more space. We are planning to purchase another house in a few years time. The house was valued at £155,00 and we have about £65k remaining on the Keystone Property Finance mortgage. We would ideally like to keep this house if possible and let it out with consent to let. Is it possible to get a mortgage on two properties at the same time or do we first need to redeem our current mortgage?
- I'd like to know if on the balance of probabilities Keystone Property Finance will give consent to us letting out our house in Wandsworth
- So this is the scenario: I am moving to become a non-UK resident. This might be for many years. Nevertheless I will be on a four month trial period .I would like to know how to go about getting consent to let from Keystone Property Finance and what charges are involved
- Do you know if I can retain my existing residential mortgage with Keystone Property Finance if I start renting out? If the consent to let is given will they tie me into an increased rate?
- Will Keystone Property Finance issue consent to let my property? I currently have a homeowner mortgage, never had arrears and have been with Keystone Property Finance for about since 2013. What charges am I likely to face
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Keystone Property Finance 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
One thing to remember when arranging a consent to let mortgage with Keystone Property Finance is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Keystone Property Finance