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Need professional advice for your consent to let with Godiva Mortgages Ltd? 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 Godiva Mortgages consent to lease
- Contracts were exchanged last month for a new build property in which I was going to live in, but my manager has offered me a posting abroad for 2 years, can I let the new property with consent to let from Godiva Mortgages.
- I am interested to know how straightforward it would be to seek consent to let from Godiva Mortgages. I am considering fixed deals and hope to live there but want to know my options if work has opportunities elsewhere for example within the next couple of yrs Could you let me know generally how receptive Godiva Mortgages are regarding consent to let?
- I rented my house out for three years from 2010-2013 while living Amsterdam. I have a letter dated May 2010 from the mortgage company granting consent to let. In the letter it explicitly stipulates that the consent to let is valid for "the remaining term of the mortgage". I have not remortgaged since the letter was sent. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be sufficient for the new lender Godiva Mortgages for the house I intend to purchase.Your view would be appreciated
- My husband and I are in a complex mortgage situation currently. We have to rent our apartment with consent to let and move to a new due to schooling. We now rent a home. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- My daughter has a mortgage with Godiva Mortgages and she wants to lease her apartment out as she moving in with her boyfriend.Will she be granted consent to let? What is the process and what needs to be done next?
- I am already renting out my flat but may have been found out. I have 5 months left on my fixed rate. Is it simple to get consent to let from Godiva Mortgages. Is it just a five minute phone call, pay the fee and that's it?
- I have only recently completed my homeloan with Godiva Mortgages since when my boyfriend has proposed and we are deciding whether to reside in his house or mine. Would I be issued consent to let if I decided to move into his property
- We would like to lease out my flat to be nearer to my son’s uni and take care of my father. What do I need for the application of consent to let from Godiva Mortgages?
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General Advice to read in supplemental the above Godiva Mortgages consent to let Questions and Answers
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
One thing to remember when arranging a consent to let mortgage with Godiva Mortgages is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise 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 Godiva Mortgages your property may be repossessed