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.
Examples of recent questions relating to Investec consent to let
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My fixed rate mortgage is approaching reissuing with Investec. The property has been sub-let for a few years and I now realise that I need to notifyInvestec. I understand that I must apply for consent to lease, but bearing in mind that the property has previously been let out could they deny - force me to go onto a BTL mortgage or even apply a penalty? I have over 25% equity in the house - and the rent will more than cover the mortgage.
- I am looking to get a consent to let from Investec as my personal situation has altered. My stepdaughter was starting university and I concluded that we would move to the area and decided to purchase a house as opposed to rent for 3 years. After having purchased the house there has been serious deterioration in my relationship with my my step daughter and she won't live there. Given that the whole point was for her and the house location isn't so ideal for my work I would like to move out and rent out the property
- It seems as though I will have the chance to go and work overseas in a couple of years. I am therefore possibly downsizing to a newer property in Greenwich which I could rent out more easily when the time comes. The intention is to keep 50% equity in the new property which would be my home for a while. My existing mortgage co will only grant consent to let for 12 months. I suspect renting it out longer term and not having consent could land me in a whole heap of legal issues. Buy-to-let seems unnecessarily expensive when I will be living there, maybe for 2-3 years initially. What product should I be seeking, and from whom? Would, for example, Investec give consent to let for an open ended period?
- Me and my girlfriend hope to buy a house together. Idea is for me to get consent to let my flat from Investec. Thinking a little down the line however - when my 2 year fixed comes to an end - how would it work if I sought to remortgage then?
- I recently bought a property with a Investec home loan. However I am presently living with mother and father. I don't want to move in until for six months due to personal reasons. In interim can I lease out the property with consent to let?
- I might be looking to let out my property and wondered what I would need to do to get consent to let by Investec. There is a possibility that I might be emigrating permanently.
- I want to consider the option of leasing out my home with consent to let from Investec whist away travelling for a few months
- About to remortgage my flat but I will potentially moving out in the next year and would be looking to lease it out. Do Investec give a consent to let letter?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read 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
If you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them could result in your insurance becoming invalid. 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 restrictions are not strictly observed you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Investec