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
- My niece is going to work abroad for twelve months and wants to let her apartment out. She has a DB UK Bank fixed rate mortgage on repayment and wants consent to let the property as well as transfer to interest only. What does she need to do?
- I have just received a mortgage offer with DB UK Bank. With any luck I will complete in the coming weeks, however I may potentially be moved overseas for work. How likely is it for me to obtain consent to let from DB UK Bank within a few months of completing. Do I have any other options?
- I have a mortgage with DB UK Bank however my husband and I will be relocating to Cape Town in January. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- My partner and I are intent on purchasing a property, letting a couple of the rooms out in order to cover the loan with DB UK Bank, and then moving on in two or three years - when the property would be fully rented. Is it likely that DB UK Bank would frown upon this as I will have been granted a domestic mortgage rather than a B2L or consent to let? I've heard that the worst possible outcome is that they can repossess the property, is this true?
- DB UK Bank domestic mortgage. Will they grant consent to let a house for 18 months? I plan to return as an occupier.
- Just wanted to know what needs to be provided to DB UK Bank in order to get consent to let? I just finished a three year fixed mortgage and possibly moving to another house with my wife.
- Are you able to clarify what the process would be if we bought a second home and need to apply for consent to let for our existing mortgage with DB UK Bank
- What, if any, income requirements do DB UK Bank set for consent to let on an existing domestic mortgage?
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 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
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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with DB UK Bank