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Need professional advice for your consent to let with Banks and Clients plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Banks and Clients consent to let
- I have a residential Banks and Clients mortgage and am keen for consent to let as I would like to move to another home belongings to me. It seems might be able to assist. How do your fees work for this service?
- I spoke to a mortgage broker friend last week. She said that were I to decide to move abroad with my job for a period then I should not apply for consent to let from my lender (Banks and Clients) until at least 2 weeks before I plan to let my property. Am I to understand that I have to find a tenant first and then obtain a consent to let?
- I am looking to get a consent to let from Banks and Clients as my personal situation has changed. My stepdaughter was starting university and I concluded that we would move to the area and chose to buy a property as opposed to spend the money on renting. Since purchasing the house there has been serious deterioration in my relationship with my my step daughter and she is unwilling to live in it. Since the whole idea was for her and the house location is not particularly ideal for my work I would like to move out and let the property
- Me and my wife bought a house in 2006 on shared ownership basis, I own half by way of mortgage and rent the remaining percentage. In late 2014 I purchased a new house. I let out my first house and moved to the new home. I secured consent to let from my lender and I believed I had consent to let from the housing association. Earlier this week I was contacted by the housing association saying they had nothing on record to say I had their consent to sublet. What do I do now?
- I will have to move to Boston for two years, I have a property with a Banks and Clients mortgage. Do I need to ask consent to let? Will they be obliging?
- How simple is it to get a consent to let from Banks and Clients and what are the fees? If I want to let out my property for two months how easy is it to chop and change between a normal mortgage and consent to let?
- We have a mortgage with Banks and Clients at present and just enquiring whether Banks and Clients currently allows consent to let
- I wish to get consent to let from Banks and Clients for two years until I can switch to a B2L. Is this possible
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Banks and Clients 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
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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in violation of the lease. This could trigger 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 Banks and Clients