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.
Frequently asked questions relating to DB UK Bank consent to lease
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Is consent to lease required from DB UK Bank or can I lease out my basement flat without telling DB UK Bank and being forced to switch to a B2L mortgage?
- I'm looking to acquire a ground floor flat in Redbridge. I am only looking to live there for 6 months, and then move into a bigger flat. As opposed to selling the prior apartment I would like to rent it out so that it becomes an investment. Do you know if DB UK Bank would grant consent to let after half a year?
- I currently have a domestic mortgage with DB UK Bank. My company has offered me a home as part of my job and wish to let out my current house. The mortgage broker seems confident that it is a formality. Are you able to provide me with some information please?
- My husband phoned DB UK Bank on Friday concerning consent to let. We are awaiting a call back. We have put an offer in on a property that has been provisionally accepted so we need to know how likely it is that we will receive consent to let from DB UK Bank?
- At the moment I do not have consent to let from DB UK Bank but I would like to apply, I am looking at working away for a couple of years. But want to keep my property for when I come back - can you help?
- I would be interested to know what information I should include in a letter applying for consent to let my house in Sutton? I would like to send a request to my lender DB UK Bank.
- I am considering relocating with work and would need to rent my property out. I have a mortgage with DB UK Bank. My property is worth approx £200k and owe £85k on it. Will DB UK Bank increase my mortgage rate?
- I have a mortgage with DB UK Bank. I am thinking of moving out and renting out my apartment. Am I required to obtain consent to let ?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above DB UK Bank consent to let Advice
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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them may trigger your insurance becoming null and void. 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 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 breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with DB UK Bank