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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.
Questions and Answers: JPMorgan consent to let
- I am looking to get a consent to let from JPMorgan as my personal situation has altered. My stepdaughter started college and I concluded that we would move nearby and opted to buy a house rather than rent for 3 years. After having bought the house there has been breakdown in my relationship with my my step daughter and she won't live in it. Since the whole point was for her and the house location is not particularly ideal for my work I would like to move out and rent out the house
- Following retirement in June I purchased a “retirement home” for my wife and myself to live in. We would like to let our current property to our grandson and I have therefore asked JPMorgan for consent to let. I was just seeking a general view on whether JPMorgan currently allows it?
- A friend of mine recently asked for CTL from the Woolwich which they turned down citing that the mortgage had not been in place for even half a year. I am about to ask for consent to let from JPMorgan. Will they adopt the same rule?
- We took a mortgage out on a ground floor flat last May however I will be working outside of commuting distance of Enfield for the foreseeable future but hope to find work closer in the long term. Given I have not had property long I will lose money if I sell and do hope to return to Enfield so would like to keep it. How likely are JPMorgan to allow a consent to let and how do I go about it ?
- I currently have a mortgage with JPMorgan that I would like to transfer to a consent to let as we have identified another property we are looking to purchase. How do I go about seeking consent to let from JPMorgan?
- I have a consent to let letter that I have obtained from my management company. I presume I need to attaching this with a letter to JPMorgan with a view to securing consent to let from them. What address shall I post it to?
- I want to apply for consent to let from my mortgage provider JPMorgan to let out my house. This is due to me relocating. Can you tell me if JPMorgan issue consent to let in this scenario?
- I would like to rent out my property for a couple of years max. I would like to know if I could have a consent to let from my existing mortgage lender JPMorgan?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above JPMorgan 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
Where 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 notify them may trigger your insurance becoming null and void. 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 terms are not adhered to you may be in violation of the lease. This could potentially result in 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.
If you do not keep up the payments on your mortgage with JPMorgan your property may be repossessed