Need Help?
Need professional advice for your consent to let with Skipton Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Skipton Building Society consent to let
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Is consent to let needed from Skipton Building Society or can I lease out my garden flat without telling Skipton Building Society and having to convert to a buy-to-let mortgage?
- Me and my wife are currently eighteen months into a year fixed rate mortgage with Skipton Building Society. We would like to acquire a more substantial 2nd property in the coming months however would like to retain the first property and I was enquiring as to what reason we could put down on the consent to let application to obtain consent to from Skipton Building Society
- For a variety of reasons I intend moving in with my girlfriend this summer and I have let my property out to two students on a twelve month AST. The application for consent to let from Skipton Building Society is in hand but what if they refuse. I can’t renege on my contract in terms of not renting the students as the paperwork is finalised. On the other hand Skipton Building Society could sue me for contravention of contract i.e. letting it out without consent to let.
- I have a mortgage with Skipton Building Society however my husband and I will be relocating to New Zealand in January. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- Will Skipton Building Society choose to exercise a right to switch the rates on a domestic mortgage where Consent to Let at any time, onto ‘rates equivalent to their BTL range'? Can one refinance on a consent to let with Skipton Building Society?
- I am relocating for work for as long as a year... I was wondering if I was able to gain from Skipton Building Society consent to let the house out while overseas as I am reluctant to leave it unattended for that period
- We need to lease out my house to be nearer to my daughter's college and take care of my father. Do I need consent to let from my lender Skipton Building Society?
- Me and my husband am looking into the option of renting out my apartment with consent to let from Skipton Building Society whist away travelling for three months
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Skipton Building Society consent to let Info
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
If 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 notify them may result in 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
If your property is 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 breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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 Skipton Building Society