Need Help?
Need professional advice for your consent to let with Dudley Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Dudley Building Society consent to lease
-
I bought a terraced property in 209 for just under 200,000 with Dudley Building Society. My husband’s job requires him to relocate to Qatar and now wish to obtain consent to let from Dudley Building Society. Do you have any experience of consent to lease from Dudley Building Society?
-
I have been letting out my flat with "consent to let" from Dudley Building Society on a standard mortgage for the previous 24 months. Dudley Building Society have put forward an ultimatum retracting their consent to let unless we move across to one of their "buy to let" loans.
- I have a Dudley Building Society mortgage with my twin and want to leave and get a new mortgage with my partner. How do I proceed with letting out my room? Is consent to let necessary from Dudley Building Society? My twin will remain in the flat
- I have been leasing my flat to a tenant for a few years but not on a buy to let mortgage as I thought that you only required a BTL if you had more than one property. In trying to acquire a further property, I discovered that I should have had consent to let all along from my mortgage provider Dudley Building Society. I'm enquiring whether I can now ask Dudley Building Society for a consent to let?
- My fiance and I were enquiring if it's possible if you own one property with consent to let from Dudley Building Society, to purchase another with a residential mortgage to live in. Then once the consent expires on the first property, to change to buy to let or sell it?
- Dudley Building Society. Will they issue consent to let a property for 18 months? I plan to return as a resident.
- There is a chance of me going to Hong Kong for twelve months with work. Planning on taking the husband with me and hoping to rent our UK home in the meantime on a temp basis to make things more cost effective. I was just enquiring I have filled in my application form but I'm unsure where to send it
- Do I need consent to let if I let to a family member (in my situation my brother now lives there and contributes towards the Dudley Building Society mortgage)?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Dudley Building Society consent to let information
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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation 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 Dudley Building Society