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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.
Rooftop Mortgages consent to let: Q and A’s
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We acquired a house in 209 for 305,000 with Rooftop Mortgages. I got married to someone in the RAF so moved in to married quarters in Qatar and now wish to apply for consent to let from Rooftop Mortgages. Will they grant permission?
- My husband and I might have to let his property out. I am aware that I need a consent to let by Rooftop Mortgages. We plan on joining a landlord association if we decide to let the flat, but which one should we join? We've seen the RLA and National Landlords Association.
- Me and my OH have a flat in Haringey which we purchased off-plan just over seven years ago. As we've now got a young son we are looking for more space. We've identified a property in Bromley that we wish to buy and want to keep the flat as an investment to rent out. The mortgage is with Rooftop Mortgages and we've found a tenant who will pay rent in excess of the monthly mortgage payment. Our question is, can we keep the repayment mortgage with Rooftop Mortgages so we effectively paying off our mortgage on the property or do we have to switch to a buy-to-let product?
- In 1999 I was granted permission by the local council and my mortgage provider Rooftop Mortgages to convert a small barn into a granny annex, conditional on it not being disposed of separately from the main house. My parents passed away some years ago and I would now like to let it out with consent to let from Rooftop Mortgages. Do you think this will be possible?
- I have just recently bought my flat and took out a mortgage with Rooftop Mortgages but my boyfriend has asked me to move in with him. Would I be allowed consent to let?
- Do you know whether there a time limit on a consent to let from Rooftop Mortgages? and do you need to get a new mortgage first or a general residential mortgage can just be changed to a consent to let after application?
- I need to contact Rooftop Mortgages to enquire about letting out our property. Will they post a document to me. Can I not get this from the site?
- I am looking at an offer to work abroad and have been advised that I need to let Rooftop Mortgages know so my mortgage is under consent to let? Please could you clarify the best way to go about this?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Rooftop Mortgages consent to let Info
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
One thing to remember when arranging a consent to let mortgage with Rooftop Mortgages is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 lease may prohibit 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
Omitting to advise 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 Rooftop Mortgages your property may be repossessed