Need Help?
Need professional advice for your consent to let with DB UK Bank Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to DB UK Bank consent to let
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Within the next few days I intend to contact DB UK Bank to obtain consent to let out my house in DB UK Bank. However the property has been on with agents for seven weeks but there are no takers and paying a full mortgage, council tax and insurance on vacant house is exhausting my finances. What approach would DB UK Banktake if I market the property?
- My cousin and his fiance currently lodge with me at my flat. This Spring I would like to move out of the flat and in with my GF. Is it possible to get consent to let from DB UK Bank after only having the mortgage for six months?
- I am currently looking to purchase my first home however, working as a contractor. I want to chose a mortgage company that allows short term letting with a residential mortgage so that I could lease out the property for 6-9 months with long periods of absence without being required to switch to a buy to let rate. Are you able to advise me on how lenders would perceive this and specifically the approach taken by DB UK Bank.
- Last month I got married and my wife and I would like to buy a family home in the coming year, whilst keeping our one bed apartment in Islington we currently live in to rent out. Mortgage on the flat is with DB UK Bank. I don't want to put myself in a situation with two residential properties and then be refused consent to let.
- I have DB UK Bank mortgage and am considering leasing out the property. I am lead to believe that I would need a consent to let to do this...is that correct ?
- I have a mortgage with DB UK Bank but am wanting to rent my house out and move in with my partner and baby what would I have to do to get consent to let?
- Do you know whether there a time limit on a consent to let from DB UK Bank? and do you need to get a new mortgage first or a general residential mortgage can just be changed to a consent to let after application?
- I want to get consent to let from DB UK Bank for a few years at which point I hope to switch to a BTL. Is this achievable
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above DB UK 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
One thing to remember when arranging a consent to let mortgage with DB UK Bank is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with DB UK Bank your property may be repossessed