Need Help?
Need professional advice for your consent to let with Leek Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Leek BS consent to lease
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We have a Leek BS mortgage and are have made overpayments to bring the loan amount down, in gainful employment etc. Do you know how much the fees are and if Leek BS usually grant consent to let without porting the loan to a different deal?
- What are the chances of Leek BS in giving Consent To Let on a three bed flat? Agents have had it on the market for three months. I am keen to sell but I'm anxious that given the lack of interest I will have to get a tenant in to cover the monthly payments to Leek BS (I no longer live at the address). My preference is to come clean with Leek BS than do it on the sly but I am concerned as to how helpful they will be.
- My flat has a mortgage against it with Leek BS and I have been letting out my flat without consent to let, which I am now led to believe means I am in contravention of my mortgage Ts and C’s. They may have suspicions that I am not living there. Is my only option is to sell the property prior to being repossessed?
- My husband and I are in a complex mortgage situation currently. We have to let our flat with consent to let and move to a different location to be nearer to our daughter’s college. We are about to rent a home. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- I am require from Leek BS consent to let out my property in Hounslow. I am planning to move in with my mother as I am off work through illness.
- We have a new mortgage however my girlfriend doesn't feel safe in the property due to other tenants in the block. I know that many lenders have a six month thing before consent to let - does this apply to all lenders. Is there any way Leek BS would grant consent to let from day one?
- I am considering relocating with work and would need to rent my property out. I have a mortgage with Leek BS. My property is worth approx £250k and owe £57k on it. Will Leek BS increase my interest rate?
- Are you aware if there is usually a maximum loan to value amount before Leek BS will consider consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Leek BS 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
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 the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Leek BS your property may be repossessed