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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.
Top Five Questions relating to Darlington Building Society consent to lease
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My wife and I have a Darlington Building Society mortgage and are never missed a loan payment, both employed etc. Can you tell me how much it will cost and if Darlington Building Society are likely to give us consent to let without transferring to a different deal?
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We just obtained consent to let from Darlington Building Society. After some effort, Darlington Building Society have issued me with ‘consent to let’ confirmation . Mention is made of an assured shorthold tenancy. Can you explain what this is?
- Your view would be appreciated as to whether consent to let from Darlington Building Society is the correct strategy for me. I acquired my house last July by porting a Darlington Building Society mortgage product. My fixed rate ran out 4 months ago I'm weighing up moving in with a new partner. I would prefer not to sell my house yet because I have no idea as to whether the new move will prove successful. I just wanted an idea of whether a consent to let from Darlington Building Society would be possible?
- I am in the Royal Navy and am looking to buy a home with a Darlington Building Society mortgage. I would like to obtain consent to let this property to my parents. In the future I plan to reside in the property with my wife and kids when I leave the Royal Navy. Will I need to apply to my Commanding Officer to request permission to rent it out?
- Is there a maximum period that Darlington Building Society is willing to grant me the Consent To Let for?
- I have tenants ready to move in and I have mortgage offer from Darlington Building Society on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- I am looking to get consent to let with my Darlington Building Society residential mortgage. It is a detached house. Will Darlington Building Society grant consent on this basis? Or would it be regarded as an HMO?
- I have just recently bought my flat and took out a mortgage with Darlington Building Society but my boyfriend has asked me to move in with him. Would I be allowed consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Darlington Building Society consent to let information
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 restrictions are not strictly observed you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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 Darlington Building Society your property may be repossessed