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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
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Within the next few days I intend to get in touch with Godiva Mortgages for consent to let out my home in Godiva Mortgages. However the property has been on with agents for 4 weeks but there are no takers and paying a full mortgage, council tax and insurance on vacant house is exhausting my finances. What approach would Godiva Mortgagestake if I have the house on the market?
- I am planning to write to my lender Godiva Mortgages explaining the following logic for me asking for consent to let ; "I am having difficulties with the monthly mortgage amount and wish to move back with my parents but can't sell. I wish to avoid failing to make payments and have considered giving over the keys. If I had consent to let that may solve matters." Is this likely to convince them to grant me consent to let?
- My fiance and I might have to let out her apartment, and I have a query concerning getting permission to do so. I know I need to notify Godiva Mortgages and get a consent to let or transfer to a buy to let product. Given that the property is leasehold do we need consent to let from the residents association?
- Last month I got married and my wife and I would like to buy a family home in the coming year, whilst keeping our three bedroom second floor purpose built flat in Redbridge we currently live in to rent out. Mortgage on the flat is with Godiva Mortgages. I don't want to put myself in a situation with two residential properties only to be refused consent to let.
- I'm gathering some information on whether consent to let is something available to me? We have a mortgage with Godiva Mortgages and are thinking of renting the place out for a couple of years, but cannot really afford to change to a buy to let mortgage. Is consent to let an alternative to to switching to a buy to let rate?
- I am looking to get consent to let on my Sutton flat from Godiva Mortgages. I will be leaving the UK for a period of time so wish to know if I am able to rent out my apartment
- Can I remortgage with Godiva Mortgages with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
- My work commitments are changing and this could result in mebe in different places every month and as such I wanted to understand the process for getting consent to let with Godiva Mortgages
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Godiva Mortgages consent to let Advice
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 obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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 Godiva Mortgages