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.
Top Five Questions relating to JPMorgan consent to lease
- I have a residential JPMorgan mortgage and am looking to obtain consent to let as I wish to move to another apartment that I own. It seems you can assist. How do your fees work for this service?
- Ever since 2011 I have had a JPMorgan mortgage with my twin and am looking to move out and get a new mortgage with my partner. How would I proceed with renting out my room? Do I need consent to let by JPMorgan? My twin will remain in the flat
- My husband and I might have to let his property out. I realise that I need a consent to let by JPMorgan. We plan on joining a landlord association if we go ahead and let the flat, but are there any thoughts on which are the best? We've seen the RLA and National Landlords Association.
- I am hoping to use equity in my current house to buy another property which I intend to live in whilst I do it up. I would like to rent my existing property with the JPMorgan loan. I was just seeking a general view on whether JPMorgan currently allows consent to let? House is valued at £350 k with a £125k home loan in place.
- I am potentially moving in with my fiance at his home and would like to rent out my property that I purchased last autumn, I'm just not sure of the process as my property is my first home. What hoops do I need to jump through to gain consent to let from JPMorgan If I obtain consent will my mortgage payments rise?
- Would you be able to help me? What do my wife and I need to do to get consent to let from JPMorgan? And how much equity is needed?
- I need to contact JPMorgan to enquire about letting out my property. Will they post a document to me. Can I not get this from the site?
- I wish to get consent to let from JPMorgan for a few years at which point I can move onto a B2L. Is this feasible
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to 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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 provisions in the lease may prevent 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
Failure to advise your co-owner of your intention to let could result in them taking legal action 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