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Need professional advice for your consent to let with Bluestone Mortgages? 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 Bluestone Mortgages consent to lease
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Having endured living in a rough area for 3 years now, we now want to move. As disposing of the house will trigger a hefty redemption penalties to Bluestone Mortgages of £3500, we thought that it would best to rent it out. So, we need to obtain a consent to let from Bluestone Mortgages only a year. What can I do to get consent?
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Bluestone Mortgages have just granted me consent to let. After some effort, Bluestone Mortgages have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. Can you explain what this is?
- Hello, I have a mortgage on a flat with Bluestone Mortgages and I am pondering on the idea of leasing my property out. Could this be done without changing to a buy to let or getting consent to let from Bluestone Mortgages?
- I have a mortgage with Bluestone Mortgages however my husband and I will be emigrating to Australia in December. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- If we ask for a consent to let letter from Bluestone Mortgages will we be forced to convert to buy to let mortgage? Our mortgage is with Bluestone Mortgages and as properties are not currently selling and we have seen one we like we were considering letting our home out in order to purchase the new and dispose of this one if the local market improves.
- I was just wondering how to get consent to let from Bluestone Mortgages...do I phone them or apply formally in writing to them?
- I have a mortgage with Bluestone Mortgages. I am thinking of moving out and leasing out my house. Am I required to obtain consent to let ?
- I am looking at an offer to work abroad and have been advised that I need to let Bluestone Mortgages know so my mortgage is under consent to let? Please could you clarify the best way to go about this?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Bluestone Mortgages consent to let Info
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
Where 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 inform them may trigger your insurance becoming invalid. 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 provisions in the lease may prevent you from letting or require that you obtain the consent of 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
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings 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 Bluestone Mortgages