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.
Sample questions relating to Accord Mortgages consent to let
- I need to move my daughter’s school by mid-September and move to a different area. I don't have time to find a buyer for my house.The only way I can see of doing it is to let my property out. Currently I have buildings and contents insurance. Do I need different insurance? Do I need consent to let from my mortgage lender Accord Mortgages
- I have a ground floor flat in Lambeth let out which has a 62 year lease. Mortgage broker suggested I should remortgage (currently with Accord Mortgages) as a buy to let rather than consent to let and release 65-70k which on top of a new homeloan based on income multiples would give me a budget of £195k. Limited available in Harrow for me to get my own place. To extend the lease will be in region of 19k. Should I keep or sell the flat?
- My partner and I may have to let his property out. I am aware that I need a consent to let from Accord Mortgages. We plan on joining a landlord association if we go ahead and let the flat, but do you have any opinions on which are the best? We've seen the RLA and National Landlords Association.
- I have been a mortgage customer with Accord Mortgages for 14 years. My divorce went through three years ago and bought the ex wife out. My situation has changed, I want to keep my house but live with my new partner, letting my house out. I have been told by my IFA that I can seek consent to let from Accord Mortgages instead of a buy to let mortgage as I I did not buy the property in the first place in order to let, advice please?
- My wife and I have a letter to Accord Mortgages requesting consent to let signed and ready, but I'm not sure what address I should mail this to. Can you please help me with the address?
- At the moment I do not have consent to let by Accord Mortgages but I would like to apply, An opportunity has arisen which might involve me working away for two years. But want to keep my home for when I come back - are you able to assist?
- We are contemplating a remortgage and also exploring the possibility of renting the property in the years to come - Is there a fee with Accord Mortgages to obtain a consent to let and what are the criteria?
- I recently purchased a house with 10% deposit for personal reasons. A homeloan was taken with Accord Mortgages. However my circumstances have now changed. I am being transferred abroad. Am I able to get consent to let from Accord Mortgages and put the house up to let?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Accord Mortgages 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
If 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 result in 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
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 terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Accord Mortgages your property may be repossessed