Need Help?
Need professional advice for your consent to let with Aviva Equity Release UK Ltd? 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 Aviva Equity Release consent to lease
-
Can one refinance on a consent to let with Aviva Equity Release?
-
I am about to join the property ladder looking to purchase a 2 bedroom house in Aviva Equity Release. I have a good size deposit with a mortgage from Aviva Equity Release. My predicament is that my girlfriend inherited a flat in London and I can foresee myself moving in next year, when I would have to let out my house. I I know that consent to let is needed but it does not sound like a positive outcome is assured. Is there any advice you can impart?
- Eight months ago my lender (not Aviva Equity Release) granted me with consent to let. The condition was that every 6 months they would levy a charge of 0.5% of the remaining mortgage amount. Having the first couple of payments they have omitted to make the charge in recent months. This may be no more than a basic computer error but I am nervous that it would also mean I no longer have Consent to Let.
- Me and my brother jointly own a flat in Havering with a Aviva Equity Release mortgage. I am looking to vacate and purchase a house with my fiancee. How do I deal with letting out my room? Do I require consent to let by Aviva Equity Release. My brother will stay in the apartment
- How much of my loan allowance will be made available to draw down on if I convert my mortgage to a consent to let with Aviva Equity Release?
- I was just looking into consent to let as it's something potentially I require from Aviva Equity Release inside the next year. Our family circumstances has changed, and I would like to lease my home out
- I am trying to find out if Aviva Equity Release will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
- Will Aviva Equity Release issue consent to let my home? I currently have a residential mortgage, never had arrears and have been with Aviva Equity Release for a little under since 2012. What charges am I likely to face
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Aviva Equity Release 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
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 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 violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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 Aviva Equity Release