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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.
Aviva Equity Release consent to let: Q and A’s
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My husband and I will move back to Perthin Month, initially temporarily but potentially longer term. We have just applied to Aviva Equity Release to obtain consent to let out our property (we have already found tenants). I have been with Aviva Equity Release for 7 years and no payments have ever been missed. Aviva Equity Release say, that even if they give permission, that this will be a temporary arrangement for 12 months. What happens after one year?
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What do I do if my request to obtain consent to let is turned down by Aviva Equity Release?
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I am between a rock and a hard place with a Consent to Let home loan. In response to requesting consent to let my bank has requested evidence of an executed tenancy agreement prior to issuing permission. If I get a signed tenancy agreement would I not be violating the terms of my existing mortgage?
- I have a house in Croydon but I am moving with my girlfriend to a different location for career reasons and moreover close to her university. I would prefer to keep my house but not sure I can afford a BTL mortgage. It will only be short term -3 years until my girlfriend completes her degree and I can sell, or move elsewhere. My mortgage is with Aviva Equity Release. Is there a chance I won't be approved for consent to let?
- I need to send the consent to let form by courier and need to know if Aviva Equity Release have a regular postal address I can use as couriers usually will not accept deliveries to PO Box numbers.
- I am looking for some generic information on consent to let. I already have a mortgage in place with Aviva Equity Release. I have had licence to sublet my GFF from the managing agents and they asked if I have consent to from Aviva Equity Release.
- I am relocating for work for as long as a year... I was wondering if I was able to procure from Aviva Equity Release consent to let the house out while abroad as I am reluctant to leave it empty for that long
- I currently have a residential mortgage with Aviva Equity Release and plan on letting due to work being based in Luton. In seeking consent to let from Aviva Equity Release do I run the risk of them forcing me to change deal to BTL
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General Advice to read in in addition to 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
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
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
If you do not keep up the payments on your mortgage with Aviva Equity Release your property may be repossessed