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.
Examples of recent questions relating to Fleet Mortgages consent to let
- May I ask if it is possible to procure consent to let with residential loan with Fleet Mortgages? We are planning to move to Lambeth to live nearer to our daughter’s university, but we are unsure whether the move will be permanent.
- I moved out of my apartment about six months ago but didn't get around to get a consent to let letter, mainly because the mortgage fix rate period is ending in 2 months and I am considering refinancing in any event. I want to ask for consent now, is that going to be tricky?
- We took out a fixed rate mortgage with Fleet Mortgages for two years and have been living in the apartment for about eighteen months. Due a job opportunity abroad I need to move so I would like to lease the place out. How can I get consent to let from Fleet Mortgages?
- I have been serving in the Royal Navy for five years and intending to acquire a home using a Fleet Mortgages mortgage. I would like to obtain consent to let this property to my mother and father in law. In years to come I would live in the property myself when my military career comes to an end. Is this achievable?
- I was just curious as to whether Fleet Mortgages would issue me with consent to let and what kind of charges, penalties and rate increase etc
- How much of my mortgage allowance will be made available to draw down on if I switch my mortgage to a consent to let with Fleet Mortgages?
- I'm thinking about letting my property on a domestic mortgage with Fleet Mortgages what is the procedure for getting consent to let?
- I don't currently have consent to let from Fleet Mortgages but I would like to change to one, An opportunity has arisen which might involve me working away for eighteen months. But want to keep my property for my return - are you able to assist?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Fleet Mortgages consent to let Questions and Answers
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
Omitting 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
If your property is leasehold, the provisions in the lease may prevent 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 breach of the lease. This could potentially result in 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 record their consent in writing.
If you do not keep up the payments on your mortgage with Fleet Mortgages your property may be repossessed