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Need professional advice for your consent to let with Darlington Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Darlington Building Society consent to let: Q and A’s
- A year ago my mortgage provider (not Darlington Building Society) provided me with consent to let. The condition was that every 6 months they would add a fee of half a percent of the outstanding mortgage amount. Having the first few payments they have omitted to make the charge in recent months. Should I be worried that this means that my consent to let has been canceled .
- We may be presented with an opportunity to work in a different office in the UK for a three months and wish to know if we can let our existing house. It is a two year fixed rate and we are six months into the mortgage with Darlington Building Society. We have lived at the property for nearly four years. The LTV is 80%. Are we likely to get consent to let from Darlington Building Society? What can we expect in fees etc
- Hi, I have consent to let my property with Darlington Building Society and am now looking to give my tenant two months notice as I intend to sell the property. I am worried about the property being empty when the tenant leaves and finding a buyer. I have never defaulted on the account, would it be possible to take payment breaks pending the sale of the property?
- I would like the consent to let forms for Darlington Building Society please I couldn't locate it on the net.
- I currently have a mortgage with Darlington Building Society that I would like to transfer to a consent to let as we have found another property we are looking to buy. How do I apply for consent to let from Darlington Building Society and what are the steps within the process?
- I have a question I'd like to ask...if consent to let is given by Darlington Building Society would it usually be restricted to a time limit, such as one year?
- I plan to buy a new house but can't afford to sell my current flat with a Darlington Building Society mortgage. Do you know acceptable terms for Darlington Building Society to grant consent to let? Is getting married and having kids a sufficient reason to seek consent?
- Darlington Building Society - consent to let potential. Can you advise on the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Darlington Building Society 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
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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in violation 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Darlington Building Society