Need Help?
Need professional advice for your consent to let with Landmark Mortgages Limited? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Landmark Mortgages consent to lease
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I have a standard mortgage over my home in loc with the intention of moving overseas to country for three years. During this period it makes financial sense to let out my flat. My lender says I cannot have consent to let. I am not inclined to transfer to a buy to let mortgage as it’s only for a short period that I am going away for.
- I am thinking of applying for consent to let from Landmark Mortgages as my personal situation has altered. My stepdaughter was starting university and I felt we would move nearby and decided to buy a property rather than spend the money on renting. After having bought the house I have fallen out with my step daughter and she refuses to live in it. Since the whole idea was for her and the house location is not particularly ideal for my work I would like to move out and let the house
- I sought consent but was refused as I did a remortgage in May but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some additional criteria that will not be ok. As a backup plan I can remortgage with Landmark Mortgages but will they give me consent straight away?
- I have had a home loan with Landmark Mortgages for 1998. My divorce was finalised months ago and bought the ex wife out. My circumstances have changed, I want to retain my house but live with my new partner, letting my house out. It has been suggested by my mortgage advisor that I can ask for a consent to let from Landmark Mortgages rather than a BTL mortgage as I haven't purchased the property with the intention of letting it out, is this correct?
- Hello, what documents or paperwork would Landmark Mortgages require for a consent to let letter?
- I have a question I'd like to ask...if consent to let is given by Landmark Mortgages would it usually be restricted to a time limit, such as one year?
- Does my LTV need to be at a certain ratio to allow me to apply for a consent to let from my mortgage provider Landmark Mortgages. Will it make a difference that I only recently out the mortgage four months ago?
- Do you have the address to which a Consent to Let request to be sent for Landmark Mortgages? Sorry about bothering you with this query.
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Caveats to be read in in addition to the above Landmark Mortgages 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
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 to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Landmark Mortgages