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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
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If push comes to shove what action DB UK Bank can take if I have rented my property without 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 property in DB UK Bank. However the property has been on with agents for 4 weeks but there is no interest and paying a full mortgage, council tax and insurance on an empty house is hurting financially. How are DB UK Bank going to react if I market the property?
- Am in possession of a mortgage offer from DB UK Bank, but we have hit a snag. My husband is the deputy head in a boarding school, and as such we are provided with a residence as part of his employment. We wanted to purchase a one bed flat to get on the ladder, and let it out while we're living at the school accommodation. I had thought DB UK Bank would be willing to give consent to let from day one of the loan. It appears that I may not be able to get consent to let. Can you give me any ideas what we can do?
- I have had a home loan with DB UK Bank for sixteen years. I got divorced two years ago and bought the ex wife out. My situation has changed, I wish to keep my house but move in with my new partner, renting my house out. It has been suggested by my IFA that I can ask for a consent to let from DB UK Bank rather than a BTL mortgage as I I did not buy the property in the first place in order to let, is this right?
- Is there a maximum period that DB UK Bank is willing to grant me the Consent To Let for?
- I have separated from my ex and we have moved back in with our respective parents and plan to divorce. What do I have to do to get DB UK Bank to give consent to let the property out to students?
- I took a residential mortgage with DB UK Bank, and I would like to rent the property out, until I decide whether to sell or retain it as an investment. At the moment I am on the fixed rate. Will I need to move onto a new mortgage? I.E. BTL?
- I am fixing my homeowner mortgage with DB UK Bank but as a result of my job I will probably have to live abroad for a couple of years. Will DB UK Bank allow and give consent to let and will any penalties be applied in such a situation
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above DB UK Bank consent to let Advice
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 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 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 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