Need Help?
Need professional advice for your consent to let with Atom Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: Atom Bank consent to let
-
I am employed by letting specialists in loc and a potential tenant for the house has demanded sight of the ‘consent to let’ from the owners lender Atom Bank. Why would they ask for this
- I wish to rent out my existing house as I wish to buy a bigger house for the family. I have a mortgage with Atom Bank. On the basis I get the consent to let as I understand lenders are more than likely to push me towards getting BTL mortgage when the fixed term comes to an end. Could I remortgage after a couple of years with an alternative lender? Will it have to be buy to let mortgage and not a residential mortgage?
- My husband and I recently sorted our rates for another fixed period with Atom Bank. However, I went to an interview and basically I accepted the job offer in Hillingdon. I'm going to rent a one bed flat for me and my family in Brent as we don't want to sell the house whist there is a chance that we come back before two years.... We really have no idea how things will go. We have contacted Atom Bank but we would like also your point of view please. How is it to obtain consent to let in that case as we just got a fixed 5 years rate we would not want to lose this rate.
- Where a property owner chooses to let out their property in the absence of consent to let from Atom Bank - what, if any implication could there be for an agent acting for the landlord?
- I am require from Atom Bank consent to let out my flat in Barnet. I am going to live with my mother as I am off work through illness.
- I would like consent to let on my Waltham Forest maisonette from Atom Bank. I will be going abroad for 10-12 months so wish to know if I can let my apartment
- I'm possibly going to Hong Kong for a year with work. Planning on taking the husband with me and hoping to rent our Havering home in the meantime on a temp basis to make things more cost effective. I was just wondering where I can I get a consent to application form from
- I have a mortgage with Atom Bank. I am thinking of moving out and leasing out my property. Am I required to obtain consent to let ?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Atom Bank consent to let information
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
If your property is leasehold, the provisions in the lease may prevent 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 your covenants under the lease. This could trigger 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Atom Bank