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Need professional advice for your consent to let with Clydesdale Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Clydesdale Bank Consent to Lease Example Support Desk Enquires
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Frank (my fiance) and I may need to rent out our Merton home temporarily due to me taking a sabbatical. This will be temporary but perhaps for three years. Must I notify Clydesdale Bank or should I not rock the boat?
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Exciting times as my better half and I are moving to Perthin Month, possibly short-term but conceivably longer term. I have contacted Clydesdale Bank for consent to let out our property (we have already found tenants). The mortgage has been in place with Clydesdale Bank for 5 years and I am up to date with payments. Clydesdale Bank inform me, that even if they consent to the letting, that this will be limited consent for 12 months. After the year is up what happens next?
- I am purchasing a semi detached house in Sutton. I am only looking to reside there for six months, and then move into a larger home. As opposed to disposing of the prior home my preference would be to let it out so that it becomes an investment. Do you know if Clydesdale Bank would give consent to let after 6 months?
- Our existing property in Brent has approximately £120K equity with a home loan with Clydesdale Bank. It's a 3 bed house in a popular location and it should rent well. We are probably moving for my husband's work and were thinking of keeping this house on as a rental property - would we need to change the loan to a B2L product or can we get consent to let by Clydesdale Bank?
- We are about to change mortgage provider to Clydesdale Bank for a fixed rate but the likelihood is that I would need to rent the apartment out for approximately one year. Do Clydesdale Bank consent to let on fixed rate mortgages and if so, what are the costs.
- A work promotions now necessitates that Ibe in different countries every month and as such I wish to understand the procedure for getting consent to let with Clydesdale Bank
- Just looking for some advice. I currently have a mortgage in place with Clydesdale Bank. I have been given licence to temporarily rent out my apartment from the freeholder of the block and they asked if I have consent to from Clydesdale Bank.
- I was wondering if you are able to assist. I require consent to let from Clydesdale Bank and was wondering if this option would be possible for me to move to as I have to move back home to take care of my mum
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Clydesdale Bank 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
If 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 notify 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
If your property is leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in violation of your covenants under the lease. This could potentially result in 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.
If you do not keep up the payments on your mortgage with Clydesdale Bank your property may be repossessed