Need Help?
Need professional advice for your consent to let with Manchester Building Society? 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 Manchester Building Society consent to let
- Me and my husband are planning to purchase a ground floor flat with 10% down payment with the aim of moving in. Somewhat fortuitously the in-laws have plans to move abroad In the event that we proceed with a residential mortgage with Manchester Building Society would there be any issues with gaining consent to let ?
- I have a ground floor flat in Waltham Forest let out which has a sixty year lease. Mortgage broker said I should remortgage (currently with Manchester Building Society) as a buy to let instead of consent to let and release 45-55k which on top of a new homeloan based on my income would give me a budget of £200k. Not much about in Barnet for me to buy my own property. A lease extension will be in region of 19k. Lease out with consent to let or sell the flat?
- In the coming months I would like to move house and I am curious as to whether I can get consent to let on my property then get a mortgage approval for the new house so I can put in an offer thus being chain free and then lease my property out when I move. Is it likely that Manchester Building Society grant consent to let for a year if they know I am looking to buy a further property or only where one is moving temporarily with work?
- My property has had a mortgage against it with Manchester Building Society for the last ten years. Fast forward and I have got married and moved into my husband’s home. As of today the property is vacant and have a choice to sell or let it out. Clearly this could be a long term proposition as the prospect of moving back is unlikely. What should I tell Manchester Building Society with a view to obtaining consent to let?
- We have a letter to Manchester Building Society requesting consent to let signed and ready, but I'm not sure what address I should forward this to. Can you please help me with the address?
- I was just looking into consent to let as it's something potentially I require from Manchester Building Society within the next year. Our marital situation has changed, and I would like to rent my home out
- My wife and I want to let our house out and use the rental income to cover the rent on a house in Southwark. How likely are we to be given consent to let by Manchester Building Society without being forced onto a BTL product.
- I own a residential home. I would like remortgage with Manchester Building Society and either change to buy to let or consent to let. I'm still within the Early Redemption Charge period so not sure if it would trigger the penalty payment?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Manchester Building Society 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
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 conditions are not complied with you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Manchester Building Society your property may be repossessed