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.
Adam & Company International Consent to Lease Example Support Desk Enquires
- I spoke to a mortgage broker friend last month. He said that if I decide to move abroad with my job for a period then I should not apply for consent to let from my lender (Adam & Company International) until at least four weeks before I plan to let the house. Does that mean I have to find a tenant first and then obtain a consent to let?
- I have a residential loan with Adam & Company International. I wanted to buy a further property and my mortgage broker suggested I apply for a consent to let. I had formerly led to believe they will only accept the consent to let if I have the intention to reoccupy my current property. Have I been given the right information?
- I found tenants for my property in the summer and didn't tell Adam & Company International. I have a three year domestic mortgage (healthy equity in it, no arrears) and want to let Adam & Company International know and get consent to let for the final 24 months of my mortgage . Not sure how to go about this.
- I am just about to receive a mortgage offer from Adam & Company International for a freehold house. I have applied via a broker. It is a 20 year mortgage. I am curious as to what is the main criteria Adam & Company International adopt in order to allow borrowers consent to let? Is consent to let based on the rental amount for a property?
- What is the longest period that Adam & Company International is willing to issue Consent To Let for?
- How much of my mortgage allowance will be made available to borrow if I convert my mortgage to a consent to let with Adam & Company International?
- As a result of job opportunities I will be relocating to Wales and would like to let out my flat temporarily, are you able to confirm what steps I need to take in order to obtain consent to let from Adam & Company International?
- We took out a mortgage with Adam & Company International a few months ago and although it's still early days we may have to relocate around next September or October and would like to be able to lease our flat out. Would this be possible with a non- BTL mortgage?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Adam & Company International consent to let Info
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 restrictions are not strictly observed you may be in breach 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Adam & Company International