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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.
Recently asked questions relating to Fleet Mortgages consent to lease
- I have a mortgage with Fleet Mortgages however my husband and I will be emigrating to South Africa in December. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- Meeting with my IFA on tomorrow. I am going to apply for Consent to Let from my current lender Fleet Mortgages. My new property in Brent will be 75% loan to value. Heard whispers that some lenders still dont accept consent to let borrowers and I may encounter difficulties regarding my new mortgage. Is there any truth in this?
- My partner and I are just about to receive a mortgage offer from Fleet Mortgages for a freehold house. I have applied through Right to Buy. It is a 20 year mortgage. I am curious as to what is the main criteria Fleet Mortgages adopt in order to grant customers consent to let? Is consent to let based on the rental amount for a property?
- Me and my girlfriend are about to buy a place together. Idea is for me to get consent to let my flat from Fleet Mortgages. Thinking a little down the line however - when my two year fixed period expires - how would it work if I sought to refinance my flat?
- Iwant to let our home and purchase another. What do I need to show Fleet Mortgages to get consent to let?
- We have a mortgage with Fleet Mortgages and would be thinking about purchasing another main residence and then subsequently renting our current property out. Do I need consent to let from Fleet Mortgages?
- I am hoping to fix my homeowner mortgage with Fleet Mortgages but as a result of my job I will probably have to live abroad for a couple of years. Will Fleet Mortgages allow and grant consent to let and will any penalties be applied in such circumstances
- I am currently refinancing and exploring the flexibility of certain lenders when it comes to consent to let. Fleet Mortgages is one of the mortgage companies I am considering. How accommodating are they are far as consent to let is concerned?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read 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
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
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Fleet Mortgages your property may be repossessed