Need Help?
Need professional advice for your consent to let with Rooftop Mortgages Ltd? 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 Rooftop Mortgages consent to let
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Can one refinance on a consent to lease with Rooftop Mortgages?
- I would like to move home. The query I have is whether consent to let will be given on my property for me to subsequently get a mortgage for the new house so I can effectively bid without being part of a chain and subsequently rent my house out when I move. Will Rooftop Mortgages issue consent to let for 12 months? If so, and the letting goes well can the consent to let time frame be continued?
- I moved out of my flat about five months ago but didn't get around to get a consent to let letter, mainly because the mortgage fix rate period is ending in 2 months and I am considering a remortgage anyway. I want to ask for the letter now, is that going to open up a Pandora’s box?
- Is it correct that lenders (I have a mortgage with Rooftop Mortgages) have changed tune and are now adopting a more lenient approach towards consent to let? A mortgage adviser recently informed me that Buy to let mortgages are not regulated by the FCA whereas residential mortgages are. So if I transfer from a owner-occupier to a Buy to let I am moving to a regulated product. He said that under the current regulation lenders are wary of letting borrowers do this, which may explain why some lenders will let customers obtain consent to let but not swap to a BTL mortgage. Is this correct?
- I am deliberating on renting my apartment will Rooftop Mortgages charge me for a consent to let letter?
- I'm wanting to know how to go about getting consent to let from Rooftop Mortgages and what fees are to be incurred. I've moved in with my partner and have a colleague wanting to let out the property.
- I was just wondering if Rooftop Mortgages were picky when giving out consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- I have a mortgage with Rooftop Mortgages but am wanting to lease my house out and move in with my GF and baby what would I have to do to get consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Rooftop Mortgages consent to let information
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
Failure 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
If your property is leasehold, the lease may prohibit 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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 Rooftop Mortgages