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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.
DB UK Bank consent to let: Q and A’s
- I have a colleague who is talking about leasing their house out and moving in with partner. The property is in Hounslow and has a £125k mortgage with DB UK Bank. What would she need to do to get consent to let if she decides to do this.
- Last month I received consent to let on a domestic loan with DB UK Bank with aim of transferring to a BTL rate when the fixed term ends within the four months, so I'm not sure if this adds to the complexity of the issue! Any information much appreciated.
- Do the estate agents we rented through owe us a duty of care to have checked that the landlord sought consent to let from DB UK Bank?
- I am expecting to apply for consent to let from my current mortgage provider DB UK Bank. A colleague of mine said that she was given ‘consent to let’ confirmation from a different lender where it stipulated that the tenancy granted must be in the form of an AST. Can you explain what this is?
- Where I have an existing homeowner mortgage with DB UK Bank and am planning to rent it out in the future will I be issued with consent to let? What is the process and charges involved?
- We would like to obtain consent to let on a house where we have a mortgage with DB UK Bank. If issued, how long would consent be given for? In asking for consent to let from DB UK Bank are we running the risk of them forcing us to change deal to BTL
- I am currently in the process of applying for a mortgage through DB UK Bank - I foresee that in the within months I may decide to rent the property out - how would I swap the normal mortgage to a buy to let mortgage?
- Will I need consent to let from DB UK Bank if I am intending to live in the apartment myself for part of the year? In addition if I obtain consent to let for a period of time, say up to twelve months, what happens after that.
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General Advice to read in supplemental the above DB UK Bank consent to let Info
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit 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 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with DB UK Bank