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Need professional advice for your consent to let with Ahli United Bank (UK) plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: Ahli United Bank consent to let
- In what situations will consent to let for a property be granted via Ahli United Bank? How long do you have to have had ownership of the property before consent to let can be negotiated with Ahli United Bank? In order to give you some perspective:We were living in a very small mid terrace house which is too small for our family, my husband is also unwell and we are far away from family who could offer us a bit of relief, in the form of babysitting. I am interested in securing consent to let in the first instance in order to renting the property out to offset the expense of the Ahli United Bank mortgage.
- I am looking to get a consent to let from Ahli United Bank as my personal situation has changed. My stepdaughter started college and I felt we would move nearby and chose to buy a house as opposed to spend the money on renting. After having purchased the house I have fallen out with my step daughter and she refuses to move in. Since the whole point was for her and the house location is not particularly ideal for my work I would like to move out and let the house
- I have a flat in Wandsworth with a Ahli United Bank mortgage but have not lived there for a while. My sister moved in but is there rent free. I currently live in rented accommodation and am looking to buy a house. I have identified a dream property at an attractive price. I have sufficient for a deposit to use on the house I am interested in but would be a financial strain to pay enough off the old property to change it to a BTL mortgage simultaneously. Can I transfer the current Ahli United Bank mortgage for my old apartment into a consent to let and use my reserves to pay a larger deposit for the homeowner mortgage on the property that I am looking to purchase?
- I am planning to lease out my apartment for a year from 28th August 2016. Is there a standard format for a letter I can use to write to Ahli United Bank to apply for consent to let.
- I have a domestic mortgage with Ahli United Bank and my circumstances have changed due to family, can I obtain consent to let. What changes will affect me?
- Situation: I am moving abroad. This might be for a number of years. Nevertheless I will be on a 3 month test period .I'm wanting to know how to go about getting consent to let from Ahli United Bank and what charges are to be incurred
- I would like to find out what information I should include in a letter asking for consent to let my house in Hounslow? I would like to send a request to my mortgage provider Ahli United Bank.
- Do you know whether there a time limit on a consent to let from Ahli United Bank? and do you need to get a new mortgage first or a general residential mortgage can just be changed to a consent to let after application?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Ahli United Bank consent to let Questions and Answers
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 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
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 Ahli United Bank