Need Help?
Need professional advice for your consent to let with Landbay Partners Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Landbay Partners Consent to Lease Example Support Desk Enquires
- We are a newly married couple and we found a home flat in Haringey that we like and wish to take out a mortgage with Landbay Partners. The issue is that I am pregnant and about to give birth any time soon as I am on the last few weeks of pregnancy. This wouldn't make it impossible for us to move right away so we are contemplating living with our parents for about six months. In the meantime, if we buy this property, we can lease it out. We just wondering how will that work out? Are we likely to get consent to let from Landbay Partners
- Is it possible to rent out our property without consent to let from our mortgage provider? I am aware that initially we signed a form stating it wouldn't be a buy to let property and that we are not the owners of other property. I know you can't use help to buy if you owned other property at the time, but what about property thereafter? Can one purchase a further property, or inherit a property?
- In the coming months I wish to move house and I am curious as to whether I can get consent to let on my property then get a mortgage approval for the new house so I can effectively bid thus being chain free and then lease my property out when I move. Will my lender Landbay Partners grant consent to let for a year if they know I am wanting to buy a further property or only where one is relocating temporarily for career reasons?
- I have a property that's presently under shared ownership (My share is 60%) and I bought it in July 2014. I plan to go through the full purchase of the house. My partner and I have also got a second house that we are looking to buy. Mortgage in principle has been approved by Landbay Partners. I would like to know that I will be able to put the existing house through consent to let as soon as the remainder share has been purchased so, that we can start the process of purchasing the new house
- I am looking to get consent to let on my Camden flat from Landbay Partners. I will be leaving the UK for a year and so want to know if I am able to rent out my flat
- My family circumstances has changed, and I would like to let my home out - meaning consent to let- I have approx £140K loan with Landbay Partners and currently 90k equity I need to avoid the redemption penalties.
- I am trying to find out if Landbay Partners will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
- Will I need consent to let from Landbay Partners if I am planning to occupy the house myself for half of the year? Also if I obtain consent to let for a limited time, say up to 2 years, what happens after that.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above Landbay Partners consent to let information
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
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 breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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.
If you do not keep up the payments on your mortgage with Landbay Partners your property may be repossessed