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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.
Keystone Property Finance Consent to Lease Example Support Desk Enquires
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My fixed rate mortgage is approaching renewal with Keystone Property Finance. The property has been sub-let for a few years and I now realise that I need to notifyKeystone Property Finance. I understand that I can ask for a consent to lease, but given that the property has previously been let out could they decline - determine that I go onto a BTL product or even apply a penalty? There is excellent equity - 30% LTV and have never missed any payments.
- I have exchanged contracts with a developer for a property in which I was going to live in, but my employer has offered me a posting overseas for three years, can I let the new property with consent to let from Keystone Property Finance.
- How long must one be the registered owner of a property before one is eligible for consent to let from Keystone Property Finance? If granted, can it be rescinded at a later date?
- I'm one year into a two year fixed mortgage with Keystone Property Finance. The LTV is only 40%. I've identified a really good deal on a one bedroom apartment in Harrow which I would not want to miss. It seems the only way I can get this other property is to take out some good chunk of equity. I would let the current home which would adequately cover the homeloan with Keystone Property Finance. Can I get a consent to let from Keystone Property Finance and and then seek an equity release after it's rented?
- It is looking as though I may need to move to NYC for a couple of years, I have a property with a Keystone Property Finance mortgage. Do I need to ask consent to let? Will they give it?
- We are interested in finding out more about the Keystone Property Finance consent to let process and prerequisites for granting.
- My partner is in the process of placing an offer on a new property in Newham and is on to a good deal as it needs some work done. We want to rent our current property for 2 years and come back to live. Will I be granted a consent to let by Keystone Property Finance?
- My wife and I want to let our house out and use the rental income to cover the rent on a house in Haringey. What are the chances of being given consent to let by Keystone Property Finance without being forced into a new rate.
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Keystone Property Finance 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 result in 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
If your property is leasehold, the provisions in the lease may prevent 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 your covenants under 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 taking legal action 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