Need Help?
Need professional advice for your consent to let with State Bank of India UK? 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 State Bank of India UK consent to let
- For ten I have a I have had a mortgage with State Bank of India UK. My other half has purchased a property in Croydon and he has asked me to live with him. Can I rent out my apartment with consent to let in case I need to move back? Also what legal documents must I provide State Bank of India UK with when completing the consent to let form?
- What is the process for obtaining consent to let from State Bank of India UK? What information do they ask for? is there a fee to pay? Is consent generally limited in time and if so, for how long? Do I need to renew it every year? What if I obtain a consent but decide not to lease out the property?
- I am currently looking to purchase my first home however, working as a contractor. I want to chose a mortgage company that will permit short term letting with a domestic mortgage so that I could let the property for 6-9 months with long periods of absence without being forced into a buy to let rate. Are you able to advise me on how lenders would view this and specifically the approach taken by State Bank of India UK.
- I have been leasing my flat to a tenant for three years but not on a BTL mortgage because I thought that you only needed a BTL if you had more than one property. In trying to acquire a further property, I found that I should have had consent to let all along from my lender State Bank of India UK. I'm enquiring whether I can now seek consent to let from State Bank of India UK?
- Just wondering if I would be able to get consent to let from State Bank of India UK in order to move back in with my parents for 12 months and conserve some money to extend the lease on my flat?
- A work promotions now necessitates that Ibe in different locations every month and as such I wish to understand the procedure for getting consent to let with State Bank of India UK
- Six weeks ago I bought my flat and took out a mortgage with State Bank of India UK but my boyfriend has asked me to move in with him. Would I be allowed consent to let?
- I am planning on moving within the next 7 months and want to let my flat out. My interest rate is fixed with State Bank of India UK. I am concerned that a 1% increase would be too much if that was linked to receiving consent to let
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above State Bank of India UK 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
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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with State Bank of India UK