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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
- Next month I will be emigrating to Denmark. Rather than sell my house, I would like to rent it out, just in case things don’t go as expected. My present mortgage is with April Mortgages. If I looked to refinance would a new lender consider this as me looking to avoid a Buy To Let mortgage, of which there is very restricted availability for 80% LTV, and hence refuse my application for Consent to Let?
- Is it legal to rent out our property without consent to let from our mortgage provider? I appreciate that initially we signed a contract stating it wouldn't be a buy to let property and that we are not the owners of other property. I know you can't use H2B if you owned other premises at the time, but what about property after the event? Can one acquire a further property, receive a gifted property?
- My husband and I currently live in Dubai and renting out our property in Redbridge. This is not something we planned but an opportunity presented itself and we took it. The rent achieved on the flat is insufficient to cover the mortgage so we send back money each month to make up the difference. Last week our lender got in touch informing me that because the property is being let out and has been for almost two years we will have to pay 1.5% interest on top of our current mortgage rate. One option would be to sell up but this will be far from easy as I am on the other side of the world. Could we remortgage with April Mortgages and get consent to let?
- I have a three year fixed rate mortgage with April Mortgages which began in November. I will be moving out in March and have tenants ready to rent my flat. I need to get a letter from April Mortgages granting consent to let until my term is up to allow me time to move onto a BTL. How do I go about this?
- My marital situation has changed, and I would like to lease my property out - meaning consent to let- I have about £200K loan with April Mortgages and currently 100k equity I need to side-step the redemption penalties.
- I currently have a mortgage with April Mortgages that I would like to transfer to a consent to let as we have identified another property we are looking to purchase. How do I apply for consent to let from April Mortgages and what are the steps within the process?
- I have a mortgage with April Mortgages taken five months back where I moved from another lender. Am I now able to rent my property with consent to let from April Mortgages as I am looking to purchase a further property.
- I need to contact April Mortgages to enquire about renting out our property. Will they send an application to me. Can I not download this from the site?
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Important warnings to consider in further to the above April Mortgages consent to let Advice
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 terms are not adhered to you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
If you do not keep up the payments on your mortgage with April Mortgages your property may be repossessed