Need Help?
Need professional advice for your consent to let with Bradford & Bingley Limited? 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: Bradford & Bingley consent to let
- As things stand we have a 5 year fixed rate home loan with Bradford & Bingley that we're approximately 18 months into. Our circumstances have now changed and we wish to let out our flat for a year and move to another town. How do we minimise the risk of Bradford & Bingley rejecting consent to let.
- A colleague recently asked for CTL from the Woolwich which they refused as the mortgage had not been in place for even half a year. I am about to request consent to let from Bradford & Bingley. Will they have the same rule?
- Our current house in Harrow has nearly £95K equity with a home loan with Bradford & Bingley. It's a decent family house in a popular location and I think it would rent easily. We are possibly moving for my husband's work and were thinking of holding onto the house on as an investment property - should we be swapping the mortgage to a B2L product or should we apply for consent to let from Bradford & Bingley?
- My husband is in the army and he has been posted overseas we would like to get something called 'Consent to let' from our lender Bradford & Bingley. Can you help me?
- This is not a question specific to Bradford & Bingley but do lenders usually supply the information I need for my Buy to Let or Consent to Let self-assessment tax submissions?
- How much of my loan allowance will be made available to draw down on if I switch my mortgage to a consent to let with Bradford & Bingley?
- I have just recently purchased my property and took out a mortgage with Bradford & Bingley but my boyfriend has asked me to move in with him. Would I be granted consent to let?
- I have a mortgage with Bradford & Bingley but would like to rent my house out and move in with my GF and baby what would I have to do to obtain consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Bradford & Bingley 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
One thing to remember when arranging a consent to let mortgage with Bradford & Bingley is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 restrictions are not strictly observed you may be in violation 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Bradford & Bingley