Need Help?
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.
Frequently asked questions relating to April Mortgages consent to lease
- I bought a house three years ago in Liverpool when I worked locally. I got a promotion which necessitated working in Luton. I drive down on Saturday morning and live with a cousin mid week. I am now consideringmoving home to avoid the commute. I am exploring the possibility of renting out my current home. My mortgage is with April Mortgages, would I have to change my mortgage product or ought I apply for consent to let?
- I had a chat with a IFA friend last recently. He said that were I to decide to move abroad with my job for a period then I should not apply for consent to let from my lender (April Mortgages) until at least two weeks before I plan to rent out the house. Does that mean I have to find a tenant first and then obtain a consent to let?
- I have had a April Mortgages mortgage for less than a year but I discovered this week that I will soon lose my job. I would like advice on procuring consent to let from April Mortgages
- I have a residential mortgage on a studio flat in Sutton but have rented it out without making April Mortgages aware of this. I now need a consent to let letter. How can I get one?
- I’m about to finish the fixed rate period of my 2 year fix with April Mortgages and go on to the standard variable rate. Can you tell me whether consent to let by April Mortgages is possible, if there are charges, and if there are time limits?
- I am thinking about letting out my house via a consent to let from April Mortgages, what fees should I expect to pay?
- I was just enquiring how to obtain consent to let from April Mortgages...do I phone them or write a letter to them?
- Please can you provide me with advice as to how to go about obtaining consent to let from April Mortgages and what, if any, fees apply.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above April Mortgages consent to let information
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
Should the tenure of your property be 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 the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with April Mortgages