Need Help?
Need professional advice for your consent to let with Adam & Company International? 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 Adam & Company International consent to lease
- My wife and I are interested in finding out more about the conditions customers have to meet before consent to let from Adam & Company International is granted. Do you know if there are any restrictions on who can be given consent?
- I have a property that's presently under shared ownership (My share is 50%) purchased in Aug 2014. I plan to go through the full purchase of the house. Me and my wife also have in mind a further house that we are hoping to purchase. Mortgage in principle has been issued by Adam & Company International. 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 buying the new property
- I applied for consent but was turned down as I did a remortgage in July 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 Adam & Company International but will they give me consent straight away?
- I'm six months into a two year fixed mortgage with Adam & Company International. The LTV is only 35%. I've found a really good deal on a garden flat in Merton which I don't want to miss. It appears that the only way to purchase the other property is to release most of the remaining equity. I'm thinking of letting the current home which would more than cover the homeloan with Adam & Company International. Is it possible to obtain consent to let from Adam & Company International and ask for additional borrowing after it's let out?
- Three months ago I completed on a property using a Adam & Company International mortgage. However I am currently living with parents. I don't want to move in until June 2017 due to personal issues. In meantime can I let out the property with consent to let?
- I wish to apply for consent to let from my lender Adam & Company International to let out my flat. I was thinking of moving in with myfiance. Can you tell me if Adam & Company International issue consent to let in this situation?
- Me and my sister and I have a mortgage with Adam & Company International on our studio flat in Merton. We are planning to buy a new house to move into. How do I switch my current mortgage on to consent to let?
- Are you able to clarify what the process would be if we move to a second home and need to apply for consent to let for our existing mortgage with Adam & Company International
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Adam & Company International 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 obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Adam & Company International