Need Help?
Need professional advice for your consent to let with Intelligent Finance? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Intelligent Finance consent to let
- My query does not relate to consent to let, I was hoping that you have an address or telephone number for a dedicated Intelligent Finance team who deal with consent to let applications. Intelligent Finance has a mortgage over my flat.
- I am a couple of years up in a five year fixed rate mortgage and intend to take a job abroad so would like to rent out my property for a couple of years. My LV is in the region of 50%. Can you tell me if Intelligent Finance will load the interest rate for consent to let for two years?
- My fixed rate expires May 2016 and I wish to fix for another three years with Intelligent Finance, hopefully rates will remain low. In in next couple of years I might want to move for a couple of years to a different county. How simple is it to get consent to let from Intelligent Finance in these circumstances? I would be coming back after two years to live in my property.
- A friend of mine recently asked for CTL from the Woolwich which they declined citing that the mortgage had not been going for even half a year. I am about to ask for consent to let from Intelligent Finance. Will they adopt the same rule?
- I am interested in discovering more about the Intelligent Finance consent to let procedure and conditions for granting.
- I am interested in some advice on how best to approach my mortgage lender Intelligent Finance regarding a 'Consent-to-Let' application. Is this something you can offer guidance on ?
- I am looking into the option of leasing out my house with consent to let from Intelligent Finance whist away travelling for six months
- I'm mulling over a remortgage offer with Intelligent Finance and it's a strong possibility that I will need take advantage of any consent to let option if available at some point in the fixed period. Are there any penalties I should consider?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Intelligent Finance 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
Failure 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
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 conditions are not complied with 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 taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Intelligent Finance your property may be repossessed