Need Help?
Need professional advice for your consent to let with The Mortgage Business? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
The Mortgage Business Consent to Lease Example Support Desk Enquires
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My wife and I have a The Mortgage Business mortgage and are have made overpayments to bring the loan amount down, both employed etc. Do you know how much it will cost and if The Mortgage Business are likely to give us consent to let without changing to a different deal?
- I'm just looking here for a my cousin as he’s at work who has a mortgage with The Mortgage Business. He asked me to find out if there is a fee for consent to let? He has been in his property for two years but has been offered a job overseas away for 2 years and is considering letting the home out while he is away.
- My cousin and his fiance currently lodge with me at my apartment. After Christmas I would like to move out of the property and in with my OH. How likely is it that I will be able to get consent to let from The Mortgage Business after only having the mortgage for nine months?
- I have been serving in the Royal Navy for three years and am looking to acquire a house with a The Mortgage Business mortgage. I would like to obtain consent to let the property to my parents. In the future I plan to reside in the property myself when I leave the Royal Navy. Is this achievable?
- My wife and I purchased a property in Kenton with The Mortgage Business and am moving to rent a property in Cardiff due to work. Is consent to let from The Mortgage Businessavailable? I am only looking to lease out the flat for half a year before selling.
- My husband and I are interested in understanding the The Mortgage Business consent to let procedure and prerequisites for granting.
- In the event that I was successful in obtaining consent to let from The Mortgage Business, can I sell during the consent period? Is it possible that I would incur any charges?
- I am looking to get consent to let with my The Mortgage Business residential mortgage. It is a mid terraced house. Do The Mortgage Business grant consent on this basis? Or would it be regarded as an HMO?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above The Mortgage Business 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
Should the tenure of your property be leasehold, the provisions in the lease may prevent 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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
If you do not keep up the payments on your mortgage with The Mortgage Business your property may be repossessed