Need Help?
Need professional advice for your consent to let with Ecology Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Ecology Building Society Consent to Lease Example Support Desk Enquires
-
If push comes to shove what action Ecology Building Society can take if I have Sublet my flat without consent to let?
- I want to explore if I can get consent to let on my existing home. I have a mortgage with Ecology Building Society but my circumstances have changed. I'm looking to move in with my partner and daughter who have a house and more room than my small flat. I am unlikely to qualify for a buy to let loan as I don't have money for a deposit nor do I earn in excess of £25000 a year.
- I sought consent but I did not get it as I did a remortgage in September but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. On the other hand I can remortgage with Ecology Building Society but will they give me consent straight away?
- We are currently in Dubai and renting out our apartment in the UK. This is not something we planned but an opportunity arose and we took it. The rental income is not enough to cover the mortgage so we send back funds each month to make up the shortfall. Earlier today our lender got in touch informing me that because the property is being let out and has been for nearly two years we will have to pay 1.5% interest in addition to our current mortgage rate. We could sell the flat but this will be difficult as I am on the other side of the world. Could we remortgage with Ecology Building Society and get consent to let?
- I need to send the consent to let form by courier and wanted to know if Ecology Building Society have a regular mailing address I can use as couriers usually don’t accept deliveries to PO Box numbers.
- Hello, what documents or paperwork would Ecology Building Society require for a consent to let letter?
- My wife and I have a mortgage with Ecology Building Society and would be thinking about buying another main residence and then subsequently leasing our current property out. Would I require consent to let from Ecology Building Society?
- I recently bought a maisonette in Islington. I am a FTB. I am moving Ireland next month, can I get consent to let from my lender Ecology Building Society or do I have to wait six months?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Ecology Building Society consent to let Info
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
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
If your property is 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 breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
If you do not keep up the payments on your mortgage with Ecology Building Society your property may be repossessed