Need Help?
Need professional advice for your consent to let with Investec Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Investec Consent to Lease Example Support Desk Enquires
- My twin and his partner currently lodge with me at my apartment. This Spring I would like to move out of the flat and in with my partner. How likely is it that I will be able to get consent to let from Investec after only having the mortgage for nine months?
- I am may soon need to apply for consent to let from my existing mortgage lender Investec. A colleague of mine said that he was given ‘consent to let’ confirmation from a different lender where conditions attached to the consent referred to an assured shorthold tenancy. Can you explain what this is?
- My wife and I have decided to rent our garden flat out. We have made an offer on another property for us to purchase and have a tenant to move into ours. I assume I have to ask our mortgage company Investec for consent to let. Is there a standard consent to let request letter I can copy?
- I have a residential mortgage coming up for renewal with Investec. I have had the property let out for a few years and I think I should come clean to Investec. I understand that I can seek consent to lease, but bearing in mind that the property has already been let out could they deny - insist I switch a BTL rate and issue a penalty? I have over 25% equity in the house - and the rental income far exceeds the mortgage.
- I have a mortgage with Investec and am considering letting it for eight weeks while on holiday. Will Investec consent to this?
- How do I go about getting a consent to let application form from Investec and how quickly can I get the consent?
- I have a mortgage with Investec taken three months back where I moved from another lender. Can I now rent my property with consent to let from Investec as I am looking to purchase another property.
- My wife and I spoken to someone at Investec about changing our current homeloan to consent to let (the current fixed rate comes to an end in summer next year). Can I just confirm that I need to send a letter explaining our change in circumstance to Investec? Where do I need to send the letter to?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Investec 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 Investec 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 standard 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
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 conditions are not complied with you may be in breach of 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Investec