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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.
Examples of recent questions relating to Ahli United Bank consent to let
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Always on the look out for a money making scheme I am contemplating leasing out my home and make money from it while I am on holiday. It’s only for four weeks. Do I need consent to let from Ahli United Bank?
- I need to move my children's school by mid-August and move to a different area. there is insufficient time to sell my house.The only way I can see of doing it is to rent my house out. Currently I have buildings and contents insurance. Am I obliged to take out a different insurance? What should request from Ahli United Bank regards to consent to let?
- I plan to move house and I am curious as to whether I can get consent to let on my property then get a mortgage approval for the new house so I can put in an offer thus being chain free and then rent my property out once I move. Is it likely that Ahli United Bank grant consent to let for 12 months if they know I am wanting to purchase somewhere else or only where one is relocating temporarily with work?
- Given we are relocating and unable to find a buyer for our flat, we are mulling over letting it out. Is it imperative to advise Ahli United Bank? If we do, I think they will want to change our mortgage to buy to let and increase fees etc which we can't afford. I thought if you continued making my monthly payments it shouldn't be a problem, but am now worried about insurance implications if we haven't got consent to let. Any thoughts?
- I would like to rent out my property. Do I simply post a letter to Ahli United Bank asking for consent to let out the house?
- Am I required to get consent to let if I let to a family member (in my situation my brother now lives there and contributes towards the Ahli United Bank mortgage)?
- I would like to find out more about how to get consent to let on a property. In particular what is the procedure for consent to let if you have a domestic mortgage with Ahli United Bank
- Is 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 supporting the above Ahli United Bank 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in violation of your covenants under 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Ahli United Bank