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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.
Keystone Property Finance Consent to Lease Example Support Desk Enquires
- A couple of years ago I was granted consent to let from my existing lender which is about to expire. I have since been traveling and had my first child. I'm not earning enough just now to cover the mortgage by myself. My lender has advised me that I can't extend my consent to let and if I continue renting out I will be in breach of the terms of my mortgage conditions. Due to affordability I it is likely that I will be refused to transfer to a BTL product. One option I am thinking about is remortgaging to Keystone Property Finance. Are they likely to grant consent to let from day one?
- I am interested to know how straightforward is it to seek consent to let from Keystone Property Finance. I'm interested in fixed residential mortgage and intend to reside there but would like to know my options if work has opportunities elsewhere for eg in two to three yrs Please let me know how challenging it is in your experience with Keystone Property Finance?
- The hope is to move home. My question is whether consent to let will be granted on my property for me to subsequently obtain a loan offer for the new house so I can put in an offer chain free and subsequently rent my house out should I move. Will Keystone Property Finance grant consent to let for 9 months? Assuming the rental goes to plan is it possible for the consent to let time frame be continued?
- I work for a letting agency in Camden. If a landlord opts to rent out their property without consent to let from Keystone Property Finance - what liability do I have, if any? Technically the landlord isn't breaking the law, however, they would be breaching their agreement with the Keystone Property Finance, as Keystone Property Finance most probably require to be notified of any change in circumstances. If I look the other way could I be accruing problems for my agency?
- As of today I have a mortgage with Keystone Property Finance. I am considering renting and purchasing another property but this is all new to me. What is the procedure for consent to let?
- I want to take in lodgers for my studio flat in Enfield which I live in. My mortgage is with Keystone Property Finance. Will they grant consent to let?
- Assuming that I was successful in obtaining consent to let from Keystone Property Finance, can I sell during the consent period? Is it possible that I would incur any charges?
- What, if any, income requirements do Keystone Property Finance set for consent to let on an existing standard mortgage?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Keystone Property Finance consent to let information
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Keystone Property Finance