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.
Recently asked questions relating to ASTRA mortgages consent to lease
- May I ask if it is likely that I will procure consent to let with domestic mortgage through ASTRA mortgages? My husband and I are planning to relocate to Lewisham to be closer to our son's university, but we are unsure whether the relocation will be permanent.
- I'm just looking here for a a relative as he’s at work who has a mortgage with ASTRA mortgages. He wanted to find out if there is a charge for granting consent to let? He has been in his property for two years but has been offered a job overseas away for a two year contract and was thinking about renting the house out while he is away.
- I acquired a one bedroom apartment in Newham in 2008 and remortgaged with ASTRA mortgages on a rate which expires in the later this year. If I go overseas for work and want to lease out my property what would I need to do to get consent to let and what are the financial repercussions if any?
- My husband is in the army and he has been posted overseas and as we want to move as a family we need 'Consent to let' from our lender ASTRA mortgages. Can you help me?
- My partner and I are looking to ask ASTRA mortgages for consent to let out our house in Greenwich. We are moving overseas for three years and wish to let it out. I omitted to look into this when we took the ASTRA mortgages mortgage, and that was due to the fact that we never anticipated an opportunity would arise such as this so was planning on being in the house.
- My wife and I were curious as to whether it is possible if you own one property with consent to let from ASTRA mortgages, to buy another with a domestic mortgage to live in. Then once the consent expires on the first property, to switch to buy to let or sell it?
- We are having to move to the US for eighteen months for my job but I don't want to switch my mortgage to BTL as I want to move back into it when I return. Do you know if ASTRA mortgages charges additional interest? Is there any work around?
- I might be looking to rent out my property and wondered what I would need to do to obtain consent to let from ASTRA mortgages. There is a possibility that I might be moving abroad for a year.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above ASTRA 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
Failure 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 restrictions are not strictly observed you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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