Need Help?
Need professional advice for your consent to let with Adam & Company? 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 Adam & Company consent to let
- My brother and I may need to rent out our home for a while due to a career opportunity. As we will be away for no more than twelve months would we need a consent to let our home. We already have a Adam & Company mortgage. Is there any criteria for consent to let that the property or individual has to meet?
- I plan to move house and I am wondering if I can get consent to let on my house then get a mortgage approval for the new house so I can put in an offer without being part of a chain and then rent my property out when I move. Will my lender Adam & Company grant consent to let for 12 months if they know I am looking to buy a further property or only where one is relocating short term with work?
- We took out a fixed rate mortgage with Adam & Company for 2 yrs and have been living in the flat for nearly eighteen months. Due relationship issues I need to leave so I would like to rent the place out. What is the best way to go about getting consent to let from Adam & Company?
- I have had a Adam & Company mortgage for just under nine months but I recently found out I am about lose my job. I would appreciate some advice on applying for consent to let from Adam & Company
- My mortgage company wont grant consent to let without a move in date confirmed with a tenant. How can I confirm this in the absence of consent to let? I am not sure but I vaguely recall my friend had a similar issue with Adam & Company.
- We have already been told to write a letter to Adam & Company to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
- If I am tied into a fixed rate with Adam & Company but am considering letting out my property, is there a fee for consent to let from Adam & Company and does the interest rate alter?
- I am thinking of moving in with my fiance at his home and would like to rent out my property that I bought ten months ago, I'm just not sure of the process as my property is my first home. What hoops do I need to jump through to obtain consent to let from Adam & Company If I obtain consent will my mortgage payments increase?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Adam & Company 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
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation 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 Adam & Company your property may be repossessed