Need Help?
Need professional advice for your consent to let with MBS Lending Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
MBS Lending Ltd Consent to Lease Example Support Desk Enquires
-
Are any options available to me if my application to obtain consent to lease is turned down by MBS Lending Ltd?
- I bought a house 3,two years ago in Leeds when I worked locally. I got a promotion which involved working in London. I commute down on Saturday afternoon and live with a cousin during the week. I decided onmoving home to avoid the commute. I am deliberating the option of renting out my current home. My mortgage is with MBS Lending Ltd, would I have to change my mortgage deal or should I apply for consent to let?
- Is it possible to rent out our house without consent to let from our lender? I am aware that initially we signed a contract stating it wouldn't be a buy to let property and that we are not the owners of other property. I know you can't use H2B if you owned other premises at the time, but what about property thereafter? Can one acquire a further property, or inherit a property?
- I recently got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our ground floor flat in Bexley we currently live in to rent out. Mortgage on the flat is with MBS Lending Ltd. I wish to avoid putting myself in a situation with two residential properties and then be refused consent to let.
- My husband and I are contemplating a remortgage and also exploring the possibility of renting the property in the years to come - Is there a fee with MBS Lending Ltd to get consent to let and what are the criteria?
- How do I go about gaining consent to let from MBS Lending Ltd? Is there specific requirements like you have to live in the property for over 9 or 12 months before its granted?
- I have purchased a flat with a MBS Lending Ltd mortgage. However I am currently living with mother and father. I don't want to move in until for eight months due to some family reasons. In meantime can I rent out the property with consent to let?
- I am interested in some guidance on how best to approach my mortgage company MBS Lending Ltd regarding a 'Consent-to-Let' application. Is this something you can offer guidance on ?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above MBS Lending Ltd consent to let Questions and Answers
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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 conditions are not complied with you may be in violation of your covenants under 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 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 MBS Lending Ltd