Need Help?
Need professional advice for your consent to let with Fleet Mortgages? 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 Fleet Mortgages consent to lease
- We are a newly married couple and we found a property in Bromley that we like and want to get a mortgage with Fleet Mortgages. Our concern is that I am pregnant and about to give birth any time soon as I am on the last few weeks of pregnancy. This means that it would not be possible for us to move right away so we are contemplating living with our parents for about six months. Meanwhile, if we buy this property, we can lease it out. We just wondering how will that work out? Will we be liable to get consent to let from Fleet Mortgages
- I would like to acquire a second property having recently bought a one bedroom apartment on domestic mortgage. Planning to purchase in a few months time. I am told that I may require consent to let from Fleet Mortgages, my current mortgage provider? What is the best way to go about this and procure the permission required.
- My husband and I recently sorted our rates for another fixed period with Fleet Mortgages. Some weeks later, I went to an interview and basically I accepted the job offer in Brent. I'm going to rent a small flat for me and my family in Bexley as we don't wish to sell the house whist there is a chance that we come back within a couple of years.... We really don't know whether it will work out. We have contacted Fleet Mortgages but we would appreciate your point of view please. How is it to receive consent to let in that case as we just got a fixed 5 years rate we really don't want to swap this.
- My twin and his girlfriend currently lodge with me at my apartment. This Spring I would like to move out of the property and in with my partner. How likely is it that I will be able to get consent to let from Fleet Mortgages after only having the mortgage for nine months?
- If we ask for a consent to let letter by Fleet Mortgages will we be forced to switch to buy to let mortgage? Our mortgage is with Fleet Mortgages and as properties are not currently selling and we have seen one we like we were going to rent our home out in order to purchase the new and dispose of this one if the value picks up.
- I don't currently have consent to let by Fleet Mortgages but I would like to change to one, An opportunity has arisen which might involve me working away for a couple of years. But want to keep my home for my return - are you able to help?
- My Fleet Mortgages mortgage is coming up for renewal. We would like to apply for a new residential mortgage and then apply for a consent-to-let. Is this possible? We don't use the house much now that our kids are growing up, and would be better used as a rental.
- I am thinking about moving in with my girlfriend but do not want to to sell my property. How do I go about requesting consent to let from Fleet Mortgages, and how likely is it that this will be given?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Fleet Mortgages consent to let Advice
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
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 notify them may 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
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 violation 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 Fleet Mortgages