Need Help?
Need professional advice for your consent to let with JPMorgan Chase Bank, N.A.? 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 JPMorgan consent to let
- My OH and I may be given an opportunity to work in a different office in the UK for a few months and would like to know if we can rent our existing flat. It is a 2 year fixed rate and we are three months into the mortgage with JPMorgan. We have lived at the property for nearly five years. The LTV is 80%. Are we likely to get consent to let from JPMorgan? What charges can we expect to pay etc
- My current mortgage provider is JPMorgan. Where do I download the consent to let application forms from, as we are already renting out the house?
- If a property owner opts to let out their property in the absence of consent to let from JPMorgan - what, if any implication could there be for an agent acting for the landlord?
- Since we are relocating and failing to sell our flat, we are considering letting it out. Am I required to disclose this to JPMorgan? If we do, I think they will want to change our mortgage to buy to let and increase rate which we can't afford. I was hoping that if I continued paying on time it shouldn't be an issue, but am now concerned about insurance consequences if I have let my property out on the sly. Any feedback?
- It would be helpful to know if JPMorgan are likely to give consent to us letting out our home in Newham
- How do I go about getting a consent to let application form from JPMorgan and how quickly can I get the consent?
- Please can you tell me the circumstances under which JPMorgan would turn down a consent to let application?
- I am considering moving in with my girlfriend at her home and would like to rent out my property that I acquired thirteen months ago, I'm just not sure of the process as my property is my first home. What do I need to do to get consent to let from JPMorgan If I obtain consent will my mortgage payments go up?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above JPMorgan 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
One thing to remember when arranging a consent to let mortgage with JPMorgan 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
If your property is leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could potentially result in 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 JPMorgan