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'm purchasing a 2 bed flat in Harrow. I am only looking to be there for nine months, and then move into a larger home. Rather than sell the first flat I'd like to let it out so that it becomes an investment. Do you know if Dudley Building Society would give consent to let after nine months?
- I have a two bedroom leasehold apartment with a Dudley Building Society mortgage and have a lodger sharing with me. I have decided to take a job in a different city and will rent there. My lodger would like to stay and has agreed to pay an increased rent. Do I have to ask for consent to let via Dudley Building Society?
- Ever since 2014 I have had a Dudley Building Society mortgage with my twin and am looking to move on and get a new mortgage with my partner. How do I proceed with leasing out my room? Would I need consent to let via Dudley Building Society? My twin will remain in the flat
- I have a normal mortgage on a one bedroom apartment in Croydon but have rented it out without making Dudley Building Society aware of this. I now need a consent to let letter. How can I get one?
- I wish to know all the criteria and requirements in place to change my Dudley Building Society mortgage to a consent to let?
- I am considering moving in with my boyfriend but would rather not to sell my flat. What is the process for requesting consent to let from Dudley Building Society, and how likely is it that this will be given?
- I currently have my mortgage with Dudley Building Society and have been for the past eighteen months and I am at present just wanting some insight as to whether gaining a consent to let is likely.
- I recently bought a property with 10% deposit for personal reasons. A mortgage was taken with Dudley Building Society. But my circumstances have now changed. I am being transferred out of the area. Am I able to obtain consent to let from Dudley Building Society and put the house up to let?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Dudley Building Society 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
If 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 notify them could result in 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation of your covenants under the lease. This could trigger 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 Dudley Building Society