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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
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I have a residential mortgage over my home in loc with the intention of relocating abroad to country for two years. During this period I want to rent out my apartment. My bank refuses to issue a consent to let. I don’t really want a buy to let loan as it’s only for a limited time-frame that I am going away for.
- I have to move my son’s school by early-September and move to a new area. there is insufficient time to sell my house.The only way I can see of doing it is to rent my house out. Currently I have standard occupiers insurance. Am I obliged to take out a different insurance? What should request from Danske Bank regards to consent to let?
- My property recently got consent to let on a non-commercial homeloan with Danske Bank with aim of changing to a B2L rate when the fixed rate expires within the six months, so I'm unclear if this complications to the issue! Any information gratefully appreciated.
- Am with Danske Bank and wonder if I am required to notify them if we no longer reside in the property. I fear that they could jack up the interest rate if we move and rent it out but it's not very apparent what the change would be. If I decide to rent my property out and seek consent to let in what way would the payments increase?
- I want to take in lodgers for my maisonette in Hounslow which I live in. My mortgage is with Danske Bank. Will they grant consent to let?
- I have a leasehold flat. I would like remortgage with Danske Bank and seek consent to let. I'm still inside the redemption penalty period so not sure if it would trigger the penalty payment?
- Me and my fiance and I have a mortgage with Danske Bank and would be thinking about purchasing another main residence and then subsequently letting our current house out. Would I require consent to let from Danske Bank?
- We are interested in more information about consent to let from Danske Bank. Would an acceptable reason be parking problems and the property is too to small for me?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Danske Bank consent to let Questions and Answers
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
Omitting 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
Should the tenure of your property be leasehold, the provisions in the lease may prevent 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Danske Bank your property may be repossessed