Need Help?
Need professional advice for your consent to let with Sainsburys Bank? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sainsburys Bank Consent to Lease Example Support Desk Enquires
- Good morning, I have consent to let my house with Sainsburys Bank and am about to give my tenant 2 months notice as I wish to sell the property. I am worried about the property being empty once the tenant leaves and finding a purchaser. Not once have I defaulted on the account, would it be possible to take payment holidays until sold?
- I rented my house out for three years from 2009-2012 while working Amsterdam. I have a letter dated June 2010 from my building society granting consent to let. In the letter it clearly stipulates that the consent to let is valid for "the remaining term of the mortgage". I have not changed product since the letter was issued. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not satisfy the new lender Sainsburys Bank for the property I wish to buy.Can this be right
- My mortgage with Sainsburys Bank has been in place for just under eight months but I recently found out I am about lose my job. I would appreciate some advice on procuring consent to let by Sainsburys Bank
- I am looking for our family to move to give us all more space. We are planning to purchase another house in the near future. Our house is estimated to be worth £155,00 and we have about £70k remaining on the Sainsburys Bank mortgage. We would prefer to keep this house as an investment property and let it out with consent to let. Can you have a mortgage on two properties at the same time or do we need to fully pay off our current mortgage first?
- We have a mortgage with Sainsburys Bank at present and just wondering about the procedure for getting a 'consent to let'
- I may be looking to rent out my property and wondered what I would need to do to negotiate consent to let by Sainsburys Bank. There is a possibility that I might be emigrating permanently.
- Does my loan to value need to be at a certain level to allow me to apply for a consent to let from my mortgage provider Sainsburys Bank. Will it make a difference that I only drew down on the mortgage four months ago?
- I hope you can help What do my wife and I need to do to get consent to let from Sainsburys Bank? And how much equity is needed?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Sainsburys Bank 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
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 lease may prohibit 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 the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Sainsburys Bank