Need professional advice for your consent to let with Together Personal Finance Limited? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
My wife and I have a Together Personal Finance home loan and are have made overpayments to bring the loan amount down, in gainful employment etc. Can you tell me how much the fees are and if Together Personal Finance usually grant consent to let without transferring to a different deal?
I am between a rock and a hard place with a Consent to Let home loan. Having sought consent to let the lender has requested that I produce an executed AST as a prerequisite to granting permission. If I get a signed tenancy agreement would I not be violating the lender’s terms and conditions?
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.
Where 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 trigger 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
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 terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.