Need Help?
Need professional advice for your consent to let with Beverley 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 Beverley Building Society consent to lease
- I have a shared ownership property in Lewisham and will be looking to buy out the rest of the property. However, within the next six months I may be working in Kenya for a short period of time so would like to know what approach Beverley 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 as an aside can you provide further advice on their consent to let criteria?
- We have an offer accepted to purchase a property, we have a deposit of between 10-15% for a domestic mortgage with Beverley Building Society. The one concern is we may leave the country in 2 months for work. We are going through our mortgage broker. She says if you tell this to Beverley Building Society in advance we will need to get a buy to let. Do go ahead with residential mortgage with Beverley Building Society, in a couple of months ask them if we can have consent to let? Alternatively, do we try and contact Beverley Building Society at this point and disclose there is a chance we will move abroad in the future (I have not signed anything as yet to move abroad) and see if they confirm in advance that it should not be a problem
- We are expecting any day now a mortgage offer from Beverley Building Society for a leasehold property. I have applied through Right to Buy. It is a capital and interest mortgage. I wonder what is the main criteria Beverley Building Society adopt in order to grant borrowers consent to let? Is consent to let based on the rental amount for a property?
- Resulting from a change in family circumstances my wife and I are moving to my parents house while they are away and letting our flat out. We are going to need for consent to let from Beverley Building Society. Will this be given? We will need to refinance in the next 12 months will we then switch to a BTL mortgage. We intend to return to our flat at within the next twelve months?
- I have split up with my wife and we have each moved into our parents house and plan to divorce. What do I have to do to get Beverley Building Society to give consent to let our house out to tenants?
- I would like to find out what information I should include in a letter requesting consent to let my house in Haringey? I would like to send a request to my lender Beverley Building Society.
- I'm possibly going to NYC for twelve months with work. Planning on taking the husband with me and hoping to rent our UK home in the meantime on a short term basis to make matters more cost effective. I was just wondering about the processes of getting a 'consent to let'
- I would like details of how to go about obtaining consent to let from Beverley Building Society and what, if any, fees I face.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Beverley Building Society consent to let information
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 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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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 Beverley Building Society