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Need professional advice for your consent to let with Danske Bank UK? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Danske Bank consent to let: Q and A’s
- I have a standard mortgage with Danske Bank and will be joining the Royal Fleet Auxiliary in March. This is a civilian manned fleet run by the Ministry of Defence. I will be at sea four months on and three months in the UK. Whilst away I want to let out my house in Ealing and move in with my brother when on shore. Will this be granted?
- I bought a house a couple of years ago in Leeds when I worked locally. I got a promotion which involved working in Watford. I drive down on Saturday afternoon and live with a cousin during the week. I am now thinking of relocating with the family to avoid the commute. I am considering the option of renting out my existing home. My mortgage is with Danske Bank, would I have to change my mortgage rate or ought I apply for consent to let?
- I have a flat in Bexley with a Danske Bank mortgage but have not lived there for a while. My dad moved in but pays no rent. At the moment I live in rented premises and am keen to buy a house. I have identified an ideal property at reasonable price. I have sufficient for a deposit to use on the house I am interested in but would be hard pushed to pay enough off the old property to change it to a BTL mortgage simultaneously. Can I switch the current Danske Bank mortgage for my old property into a consent to let and use my reserves to pay a larger deposit for the domestic mortgage on the property that I am looking to purchase?
- I am an existing Danske Bank mortgage client in need of consent to let on an existing property. We would like to purchase in close proximity to where we are based with the Royal Navy,... but we might have to move.
- I'd like to know if on the balance of probabilities Danske Bank will grant consent to let out our residential property in Ealing
- I am seeking from Danske Bank consent to let out my flat in Lambeth. I am going to live with my grandfather as I am off work due to illness.
- We are about to switch lender to Danske Bank for a fixed rate but during this period would need to rent the property out for about 12 months. Do Danske Bank consent to let on fixed rate mortgages and if so, what are the costs.
- I am interested in more information concerning consent to let mortgages, potentially transferring our current mortgage with Danske Bank over to a consent to let one.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Danske Bank consent to let Advice
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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 provisions in the lease may prevent 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 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.
If you do not keep up the payments on your mortgage with Danske Bank your property may be repossessed