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
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My fiance and I may need to let our Hackney home for a while due to a career opportunity. This will be temporary but perhaps for five years. Must I notify ASTRA mortgages or am I best advised to not rock the boat?
- I have had consent to let from ASTRA mortgages for a while now yet they now want to speak to me and I expect their plan will be to get rid of me. Are you able to assist?
- A year ago my lender (not ASTRA mortgages) granted me with consent to let. This was subject to a provision that every half year they would add a fee of half a percent of the outstanding mortgage amount. Having the first couple of payments they have omitted to make the charge in recent months. Should I be worried that this means that my consent to let has been canceled .
- I took out a new mortgage with ASTRA mortgages recently, borrowing extra with the intention to extend the property. That plan has proved not to be possible and I now intend to purchase a 2nd property as my primary residence and let the old property out with consent to let. Is that likely to land me in hot water?
- ASTRA mortgages domestic mortgage. Will they issue consent to let a property for 18 months? I will move back in again as an occupier.
- I'm possibly going to Hong Kong for twelve months with work. Planning on taking the husband with me and hoping to rent our UK property in the meantime on a short term basis to make things more cost effective. I was just wondering whether ASTRA mortgages currently allows consent to let
- Is it the case that a previous extension to a mortgage term with ASTRA mortgages be held against us when we applied to ASTRA mortgages for consent to let.
- I would like to know if I have a normal mortgage with ASTRA mortgages and decide to lease it out, does the rate get jacked up and are there any associated charges for obtaining consent to let.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above ASTRA 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
Omitting 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 lease may prohibit you from letting or require that you to have a license to do so from 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
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.
Your property may be repossessed if you do not keep up repayments on your mortgage with ASTRA mortgages