Need Help?
Need professional advice for your consent to let with Masthaven Bank? 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 Masthaven Bank consent to let
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Can one refinance on a consent to let with Masthaven Bank?
- I own a maisonette but I am seldom there, deliberating the option of renting it out. My mortgage is with Masthaven Bank, would I have to switch my mortgage rate or should I apply for consent to let?
- I would like to move and let out my one bedroom second floor purpose built flat in Greenwich. Having bought it in spring 2009 and currently on a high ltv there is little equity in it. My mortgage is with Masthaven Bank. Do you know where Masthaven Bank stand when it comes to consent to let?
- We have just sorted our rates for another fixed period with Masthaven Bank. However, I attended an interview and basically I accepted the job offer in Newham. I'm going to rent a small flat for the family in Bexley as we don't want to sell the house and moreover we might come back within a couple of years.... We really have no idea whether it will work out. We have contacted Masthaven Bank but we would like also your take on the situation. Is it possible to receive consent to let in that case as we just got a fixed 5 years rate we really don't want to change.
- I am deliberating on renting my flat will Masthaven Bank invoice me for a consent to let letter?
- I am endeavouring to figure out which mortgage providers are best for giving consent-to-let without raising rates, and hopefully allowing in excess of 2 years where necessary. Is that something you can help with? We are particularly interested in Masthaven Bank
- I would like to find out more about obtaining consent to let on a property. In particular what is the procedure for consent to let if you have a residential mortgage with Masthaven Bank
- What are the changes that Masthaven Bank force me into a consent to let product while I'm in a fixed rate product for 2 years?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Masthaven Bank consent to let Questions and Answers
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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them could trigger your insurance becoming invalid. 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
Omitting to advise your co-owner of your intention to let could result in them commencing legal proceedings 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 Masthaven Bank