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.
Sample questions relating to Investec consent to let
- Contracts were exchanged last month for an off plan property in which I was going to live in, but my employer has offered me a posting overseas for three years, can I let the new property with consent to let from Investec.
- I need to change my homeowner mortgage with Investec to a consent to let and looking for some guidance... I purchased my first home in Lewisham fouryears ago. After a new job opportunity I moved to Edinburgh, and a few months ago got a residential joint-mortgage with my partner. I am inclined to stay with Investec and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if Investec turn me down what lenders can I approach.
- I would like to rent out my current residence as I wish to purchase a bigger house for the family. I have a fixed rate mortgage with Investec. On the basis I get the consent to let as I understand banks are more than likely to push me towards getting BTL mortgage when the fixed term is finished. Could I refinance after two years with an alternative lender? What connotations does that have aside from the higher rates - would I need a higher equity portion in the property too ie lower ltv?
- A friend of mine recently asked for CTL from the Woolwich which they turned down because the mortgage had not been in place for even half a year. I am about to ask for consent to let from Investec. Will they adopt the same rule?
- When it comes to consent to let from Investec am I obliged to tell them every time we get a new tenant and send them a copy of the lease document?
- This is not a question specific to Investec but do lenders usually supply the information I need for my Buy to Let or Consent to Let self-assessment tax submissions?
- I am seeking from Investec consent to let out my flat in Bexley. I am planning to move in with my grandfather as I am off work through ill health.
- My existing mortgage is with Investec, but I will soon to need move out for approximately 12 months as we need to be nearer to my wife’s mum and dad. Will Investec grant consent to let?
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Information to consider in supporting the above Investec consent to let Info
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 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 terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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