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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.
Questions and Answers: April Mortgages consent to let
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Just wondered if any of your clients had recent experience requesting Consent to Leasefor12 months from April Mortgages or whether you have any tops as to how such permission is obtained.
- My partner and I are are looking to join the property ladder, presently renting. We want to purchase a ground floor flat in Southwark. We want to move there, but will need to wait for a job - perhaps a couple of years. Would we have to get a B2L loan? Could we take a domestic mortgage with April Mortgages, even though we won't be moving in straight away? Or could we move there for a few of months, then start renting it with consent to let from April Mortgages? I'm only willing to consider options that are completely legitimate, and wouldn't breach the provisions of the April Mortgages mortgage.
- We recently sorted our rates for another fixed period with April Mortgages. However, I went to an interview and basically I accepted the job offer in Enfield. I'm going to rent a small flat for me and my family in Bexley as we don't want to sell the house whist there is a chance that we come back within a couple of years.... We really don't know whether it will work out. We have contacted April Mortgages but we would like also your take on the situation. How is it to get consent to let in that case as we secured a fixed 5 years rate we would not want to change.
- Me and my brother are joint proprietors of a small apartment in Westminster with a April Mortgages mortgage. I want to vacate and buy a house with my fiancee. How do I deal with sub-letting my room? Would I need consent to let from April Mortgages. My brother will continue to live in the property
- April Mortgages. Will they issue consent to let a house for 2 years? I will move back in again as an occupier.
- I was just looking into consent to let as it's something potentially I would need from April Mortgages within the next year. Our circumstances have changed, and I wish to lease my home out
- Please can you tell me the circumstances under which April Mortgages would refuse a consent to let application?
- I own a leasehold flat. I would like remortgage with April Mortgages and seek consent to let. I'm still inside the redemption penalty period so not sure if there such a thing as porting to some property?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further 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
Should the tenure of your property be 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 terms are not adhered to you may be in breach of your covenants under the lease. This could potentially result in 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