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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.
Sample questions relating to Ahli United Bank consent to let
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Having endured living in a rough area for 3 years now, we are keen to relocate. As disposing of the property will result in redemption penalties to Ahli United Bank of £5000, we considered that it would best to let it out. In the circumstances we need consent to let from Ahli United Bank only a year. What can I do to get consent?
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Exciting times as my wife and I will move back to Perthin Month, possibly temporarily but it could be longer term. I have contacted Ahli United Bank for consent to let out the property (we have already found tenants). I have been with Ahli United Bank for 7 years and I am up to date with payments. Ahli United Bank say, that even if they give permission, that this will be limited for a single year. Do I then need to reapply?
- I have a shared ownership home in Brent and will be looking to buy out the rest of the property. However, in the future I may be working abroad for a short period of time so would like to know what approach Ahli United Bank take to consent to let as I am considering a remortgage with them. I am not sure if they will lend on my property but in the meantime can you provide further detail on their consent to let criteria?
- I have a Ahli United Bank mortgage and have been letting out the property without consent to let, making me in contravention of my mortgage conditions. They may have suspicions that I am not living there. What negotiating options do I have if I fail to sell it before they are on notice that I am in contravention of my terms and condition?
- I am looking to Ahli United Bank to issue me with consent to let out my basement flat in Bromley. I am moving to India for 8 months for work.
- I am looking to Ahli United Bank to issue me with consent to let out my flat in Haringey. I am about to commence a PhD opportunity in Maastricht University, Netherlands
- My existing mortgage is with Ahli United Bank, but I will soon to need move out for around a year as we need to be nearer to my partner's mum. Will Ahli United Bank grant consent to let?
- If I let my property with consent to let from Ahli United Bank will will theyjack up the interest rate? I am presently on a fixed rate for two years.
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Ahli United Bank consent to let information
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
One thing to remember when arranging a consent to let mortgage with Ahli United Bank is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform 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 Ahli United Bank your property may be repossessed