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Need professional advice for your consent to let with April Mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to April Mortgages consent to lease
- I am thinking of applying for consent to let from April Mortgages as my personal circumstances have altered. My stepdaughter was starting university and I felt we would move nearby and decided to buy a house as opposed to spend the money on renting. Since purchasing the house I have fallen out with my step daughter and she won't move in. Since the whole idea was for her and the house location isn't so ideal for my work I would like to leave and let the property
- We purchased a property in 2008 with the help of a housing association, I own 50% by way of bank loan and rent the remaining half. Three years ago I bought a new home. I rented out my first property and moved to my new property. I secured consent to let from my mortgage company and I believed I had consent to let from the housing association. Yesterday I was contacted by the housing association saying they had nothing on record to say I had their consent to sublet. What are my options?
- I understand that this is a breach of April Mortgages mortgage policy if I let out my house having informed that I intend to live there. The aim is to have the mortgage fully paid off after six years, by which time the property will be mortgage free, meaning I no longer require any consent to let. April Mortgages advised me I can overpay as little as I like during the lifetime of the mortgage. I know someone who is interested in renting the property. What are the chances of April Mortgages finding out? Can you set out repercussions of not getting consent to let? From what I have read there is a possibility of April Mortgages switching my loan onto a BTL mortgage
- We took a home loan out on a garden flat in May however I will be working outside of commuting distance of Westminster for the foreseeable future but hope to find work closer in the long term. Given I have not had property long I will lose money if I sell and do plan to return to Westminster so would like to keep it. How difficult is it to get consent to let from April Mortgages and what is the procedure ?
- My OH and I are interested in understanding the April Mortgages consent to let process and prerequisites for granting.
- If I am tied into a fixed rate with April Mortgages but am deliberating on letting out my property, is there a charge for consent to let from April Mortgages and does the interest rate change?
- I am trying to find out if April Mortgages will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
- Ten months into mortgage with April Mortgages due to job offer.. need to move. Do you think I can get buy to let or consent to let.
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Important warnings to consider in in addition to the above April Mortgages 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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 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 breach of your covenants under the lease. This could trigger 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.
If you do not keep up the payments on your mortgage with April Mortgages your property may be repossessed