Need Help?
Need professional advice for your consent to let with Vida Homeloans? 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 Vida Homeloans consent to let
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Bottom line - if worst comes to the worst what action Vida Homeloans can take if I have let out my house without consent to let?
- Can you explain "consent to let" to me? I live in a 1 bed flat and its in good condition. It has been on with agents for two months and I can't find a buyer. This is because my neighbour is noisey. I have had to put it on the disclosure form. I am with Vida Homeloans on a fixed rate. Someone mentioned I should obtain consent to let by Vida Homeloans and rent the flat to tenants.
- My mortgage with Vida Homeloans has been in place for less than a year but I recently found out I am about be made redundant. I would like how to go about procuring consent to let from Vida Homeloans
- My OH and I intend to lease our current apartment out shortly after we find a new house. I will apply for consent to let from Vida Homeloans. At the moment the property is in my name but I am a top rate tax payer. Do I need to do a Transfer of Equity to her or should I enter into a Declaration of Trust?
- Is it possible to refinance with Vida Homeloans with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
- Me and my partner are considering applying to Vida Homeloans to obtain consent to let our home, how long does it take from the point of sending the forms to us finding a letting agent and listing our house for rent? and are there any additional steps in the process?
- Do you have the address to which a Consent to Let request to be sent for Vida Homeloans? Sorry about bothering you with this query.
- I have a mortgage with Vida Homeloans but am wanting to let my house out and move in with my GF and baby what is required to get consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Vida Homeloans consent to let Questions and Answers
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
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
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 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 obtain their consent in writing.
If you do not keep up the payments on your mortgage with Vida Homeloans your property may be repossessed