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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.
Questions and Answers: Aviva Equity Release consent to let
- In the coming months I am looking to move house and I am wondering if I can get consent to let on my property then get a mortgage approval for the new house so I can effectively bid without being part of a chain and then rent my property out when I move. Is it likely that Aviva Equity Release grant consent to let for six months if they know I am wanting to purchase a further property or only where one is relocating temporarily for my job?
- me and my wife have just sorted our rates for another fixed five years with Aviva Equity Release. Subsequently, I went to an interview and basically I accepted the job offer in Bromley. I'm going to rent a two bedroom flat for me and my family in Tower Hamlets as we don't wish to sell the house and moreover we might come back within a couple of years.... We really don't know how things will go. We called Aviva Equity Release but we would like also your point of view please. Is it possible to obtain consent to let in that case as we just got a fixed 5 years rate we really don't want to swap this.
- For a couple of years now I have had a mortgage with my fiance on our property which is up for renewal 1st October. I am having to move to Birmingham with work in this summer. What are the chances of being able to switch to a consent to let mortgage with Aviva Equity Release?
- I have been serving in the Royal Navy for three years and intending to acquire a house with a Aviva Equity Release mortgage. I would like to be given consent to let the house to my mother and father in law. In years to come I plan to live in the property with my family when my military career comes to an end. Will I need to apply to my Commanding Officer to request permission to rent it out?
- It is looking as though I may need to move to Miami for a couple of years, I have a house with a Aviva Equity Release mortgage. Do I need to ask consent to let? Will they grant it?
- I would like consent to let on my Islington maisonette from Aviva Equity Release. I will be leaving the UK for a period of time and so want to know if I can rent out my apartment
- I recently completed on a garden flat in Hounslow. I am first time buyer. I am moving Paris next month, can I get consent to let from my lender Aviva Equity Release or do I have to wait six months?
- I have spoken to someone at Aviva Equity Release about switching our existing mortgage to consent to let (the current two year fix ends in june next year). Can I just confirm that I need to formally put the request in writing explaining our change in circumstance to Aviva Equity Release? Where do I need to post it to?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Aviva Equity Release consent to let Advice
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
If you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them could trigger your insurance becoming null and void. 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 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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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