Need Help?
Need professional advice for your consent to let with ASTRA mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to ASTRA mortgages consent to lease
- Can you please inform me what fees ASTRA mortgages levy for consent to let out a room in my maisonette? Any advice would be gratefully received.
- We recently sorted our rates for another fixed period with ASTRA mortgages. However, I went to an interview and basically I accepted the job offer in Hounslow. I'm going to rent a small flat for me and my family in Westminster as we don't want to sell the house and moreover we might come back within a couple of years.... We really don't know whether it will go. We called ASTRA mortgages but we would like also your take on the situation. Is it possible to have a consent to let in that case as we just got a fixed 5 years rate we really don't want to change.
- I have a mortgage with my partner on our property which is up for renewal 1st October. I am having to relocate to Bristol for my company in March. What are the chances of being able to move to a consent to let mortgage with ASTRA mortgages?
- My husband and I are in a complex mortgage scenario in the last couple of month. We have to let our house with consent to let and move to a different location due to schooling. We are about to rent a home. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- Can you help me understand what are acceptable reasons for leasing a property when it comes to seeking consent to let from ASTRA mortgages? Are you able to assist?
- My OH and I were curious as to whether it is possible if you own one property with consent to let from ASTRA mortgages, to buy a second with a residential mortgage to live in. Then once the consent expires on the first property, to switch to buy to let or sell it?
- ASTRA mortgages - consent to let potential. Do you have experience of the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
- My partner and I have a mortgage with ASTRA mortgages and would be thinking about purchasing another main residence and then subsequently letting our current property out. Would I require consent to let from ASTRA mortgages?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above ASTRA mortgages consent to let Questions and Answers
Tax and Legal
There are numerous potential 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 lease may prohibit you from letting or require that you obtain the consent of 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
Failure 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 ASTRA mortgages your property may be repossessed