Need Help?
Need professional advice for your consent to let with Chesham Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Chesham Building Society Consent to Lease Example Support Desk Enquires
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I am in an impossible situation with a Consent to Let mortgage. Having sought consent to let the lender has requested evidence of an executed Assured Shorthold Tenancy prior to issuing consent. If I get a signed tenancy agreement would I not be breaching the lender’s terms and conditions?
- I'm currently tied into a tenancy agreement until May and am purchasing a flat. Would my mortgage provider Chesham Building Society object to granting consent to let until my tenancy is up and then moving in?
- I have a mortgage with Chesham Building Society. I would like to buy a further property and my mortgage broker advised me to seek consent to let. As far as I am aware they only grant consent to let if I have the intention to go back to my current property. Have I been given the right information?
- I let my property last June and didn't tell Chesham Building Society. I have a three year homeowner mortgage (significant equity in it, no arrears) and want to let Chesham Building Society know and get consent to let for the remaining 24 months of my mortgage . I am unsure what to do.
- What are the circumstances under which Chesham Building Society would decline a consent to let application?
- Would a previous extension to a mortgage term with Chesham Building Society work against us once we sought consent to let from Chesham Building Society.
- Was wondering how to get a consent to let from Chesham Building Society with whom I have a mortgage with. There is a remaining balance of 47k. The value of property is 110k. Property is in my name but my wife and I would like to purchase a garden flat in Hillingdon we have seen together. How do we go about it?
- We are considering a remortgage offer with Chesham Building Society and it's a strong possibility that I will end up asking for consent to let during the fixed period. Are there any fees I should consider?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Chesham Building Society consent to let Info
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
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 could 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 conditions are not complied with you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform 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.
If you do not keep up the payments on your mortgage with Chesham Building Society your property may be repossessed