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.
Top Five Questions relating to Aviva Equity Release consent to lease
- I'm buying a studio flat in Hackney. My plan is to live there for a year, and subsequently move into a bigger apartment. As opposed to selling the first home I would like to let it out so that it becomes an investment. Do you know if Aviva Equity Release would grant consent to let after six months?
- Having spent 17 years in London, I'm considering relocating to be nearer to family. We've only been homeowners for the last two years and about to refinance with Aviva Equity Release. In Hackney, we are be looking at a 3-bed house around the £275k mark. Ideally, we would like to retain my existing apartment. Could I ask for Consent to Let from the proposed new mortgage provider Aviva Equity Release. If granted what are the likely requirements?
- I have a self contained flat attached to my house that my mother is planning to move out from. As the main house is large I was thinking to move into the annex and let the rest out. This is also due to change of circumstances. Would I need a consent to let from Aviva Equity Release?
- Need some help regarding renting a property and consent to let. In the coming months I intend to move in with my partner. The local authority would like to rent my flat for 5 years guaranteed with rent and service charges covered. The flat was purchased with a mortgage by Aviva Equity Release. Please help
- I would like to understand what are acceptable reasons for leasing a property when it comes to seeking consent to let from Aviva Equity Release? Are you able to assist?
- How much of my loan allowance will be made available to draw down on if I switch my mortgage to a consent to let with Aviva Equity Release?
- Can I remortgage to Aviva Equity Release from my current provider, with a consent to let or do I need a let to buy mortgage, and if so what are the LTV's?
- I am seeking consent to let for my house as I am moving out for nine months currently fixed Aviva Equity Release mortgage with three years which is up in May next year.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further 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
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 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
Omitting to inform 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 Aviva Equity Release