Need Help?
Need professional advice for your consent to let with Keystone Property Finance? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Keystone Property Finance consent to lease
- I have just come off the phone to Keystone Property Finance who have advised me that they are now aware that I am renting the garden flat despite having a domestic mortgage. I moved out two years ago for work reasons, couldn't sell and so had little option but to rent out the property. Do you know what the ramifications will be for me not getting consent to let?
- I have a Keystone Property Finance mortgage and have been letting out the property omitting to get consent to let, which I am now led to believe means I am in breach of my mortgage conditions. They may have suspicions that I am not living there. What are the legal implications of my failure to obtain consent to let?
- I was just looking for a general view on whether I will be allowed to change a homeowner mortgage with Keystone Property Finance to a consent to let. It will be less than 55% loan to value and it would change from repayment to an interest only loan?
- I have a question concerning consent to let. I have a Keystone Property Finance mortgage on my property (with quite a bit of equity). We are planning to move out of Cambridge and if at all possible want to rent out our house with consent to let from Keystone Property Finance and use the income from that to help secure a second mortgage for a house to live in. What is the best way to fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- When it comes to consent to let from Keystone Property Finance am I obliged to inform them every time we get a new tenant and post them a copy of the lease?
- My existing mortgage is with Keystone Property Finance, but I am going to move out for about 12 months as we need to be nearer to my partner's mother. Will Keystone Property Finance give consent to let?
- My OH is in the process of placing an offer on a new property in Islington and is getting a good deal as it needs renovating. We want to rent our current property for two years and then return. Will I be given consent to let by Keystone Property Finance?
- What information should I include in a letter asking for consent to let my house in Hackney? I would like to send a request to my mortgage provider Keystone Property Finance.
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Keystone Property Finance consent to let Advice
Tax and Legal
There may be various 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
Omitting 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 lease may prohibit 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
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Keystone Property Finance your property may be repossessed