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.
Examples of recent questions relating to ASTRA mortgages consent to let
- I have been stupid in not informing ASTRA mortgages that I’m renting my flat out. In an ideal world I would like to do the right thing with as little consequence as possible. If ASTRA mortgages says yes, what are the chances of them learning historically that the property was let without consent?
- Where is the ASTRA mortgages consent to let form on your site I couldn't locate it on the net.
- Due to meet with my broker on tomorrow. I will seek Consent to Let from my current lender ASTRA mortgages. My new property in Lewisham will be 75% loan to value. Heard whispers that some lenders still dont accept consent to let borrowers and I may encounter difficulties regarding my new mortgage. Am I likely to encounter this problem?
- Me and my partner hope to purchase a house together. Intention is for me to get consent to let my property from ASTRA mortgages. Thinking further ahead - when my two year fixed period expires - how would it work if I wanted to refinance then?
- My existing mortgage is with ASTRA mortgages, but I have to get consent to let for around a year as my partner is unwell and is struggling to balance work with the hectic environment we are living in. We want to just chill out a little for a year (by living near her mother and stepfather and having support) in a greener less hectic part of London.
- Do you know if ASTRA mortgages would have archive records as to whether consent to let was granted for a specific property?
- I would be interested to know what information I should include in a letter asking for consent to let my property in Bromley? I would like to send a request to my mortgage provider ASTRA mortgages.
- Is consent to let a cheaper way of becoming a landlord? Isn't this a loophole for some borrowers to exploit?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above ASTRA mortgages consent to let Info
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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them could trigger your insurance becoming null and void. 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
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of 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
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with ASTRA mortgages