Need Help?
Need professional advice for your consent to let with Bath Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Bath Building Society consent to lease
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I am in a pickle with a Consent to Let home loan. Reacting to my requisition for consent to let my lender has requested that I produce an executed tenancy agreement prior to issuing consent. If I get a signed tenancy agreement would I not be breaching the lender’s terms and conditions?
- I have a shared ownership property in Westminster and will be looking to buy out the rest of the property. However, in the future I may be working overseas for a short period of time so would like to know what approach Bath Building Society take to consent to let as I am considering a remortgage with them. I am by no means sure that a mortgage can be obtained on my property but in the meantime can you provide further information on their consent to let policy?
- I got a normal mortgage with Bath Building Society last November and then had to relocate for work, I am now considering leasing my property out for a year whilst I am away. Am I able to get a consent to let from Bath Building Society, and what effect would this have?
- I have been in the Royal Navy for six years and planning to acquire a home using a Bath Building Society mortgage. I would like to be given consent to let the house to my sister. In the future I would live in the property with my wife and kids when I leave the Royal Navy. Will I need to apply to my Commanding Officer to request permission to rent it out?
- I have a Bath Building Society home loan currently and may wish to let it out temporarily with consent from Bath Building Society for (1 year). Just wanted to know is it something that is obtainable relatively quickly?
- This is not a question specific to Bath Building Society but do mortgage companies generally provide the information I need for my Buy to Let or Consent to Let self-assessment tax submissions?
- My mortgage has been with Bath Building Society for six years. I would like to apply for consent to let my home. I have been waiting for a response from Bath Building Society. Are you able to please check and help?
- I have fixed rate mortgage with Bath Building Society. I may have to lease out my place due to necessity. If I apply for consent to let, will I have to pay a lot more interest?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Bath Building Society consent to let information
Tax and Legal
There are numerous potential 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 conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Bath Building Society