Need Help?
Need professional advice for your consent to let with Accord Mortgages Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Accord Mortgages consent to lease
-
Is consent to lease required from Accord Mortgages or can I lease out my new house without telling Accord Mortgages and having to switch to a buy-to-let mortgage?
- My flat has a mortgage against it with Accord Mortgages and I have been renting my flat omitting to get consent to let, making me in contravention of my mortgage terms and condition. I fear that they have sussed that I am not living there. Is my only option is to dispose of the flat before repossession?
- My fiance and I might have to let out her flat, and I have a query concerning getting consent to do so. I know I need to inform Accord Mortgages and get a consent to let or transfer to a buy to let mortgage. But the property is leasehold, so do we need consent to let from the freehold company?
- I have been in the Royal Navy for six years and planning to acquire a home using a Accord Mortgages mortgage. I would like to obtain consent to let the property to my sister. In years to come I would live in the property with my wife and kids when my military career comes to an end. Is this achievable?
- Is there a maximum period that Accord Mortgages is willing to issue Consent To Let for?
- If I were to apply for consent to let from Accord Mortgages how long will it take to hear back?
- Is it possible to negotiate a consent to let from Accord Mortgages if I have a current mortgage which has been in place for twelve years?
- I am interested in consent to let for my house mortgaged with Accord Mortgages. How do I move forward? Do I have to contact Accord Mortgages and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Accord Mortgages 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
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 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 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 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 Accord Mortgages your property may be repossessed