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.
Sample questions relating to Keystone Property Finance consent to let
- I am currently looking for a mortgage as FTB and considering Keystone Property Finance with my financial adviser. Suppose I choose a five year fixed rate I move in the property and after twelve months, I come to get an opportunity of work relocation requiring moving to a different location. In the case Keystone Property Finance gives me consent to let,would the rate stay as it is or would it increase?
- Ever since 2014 I have had a Keystone Property Finance mortgage with my twin and am looking to leave and get a new mortgage with my partner. How should I go about letting out my room? Is consent to let necessary from Keystone Property Finance? My twin will remain in the apartment
- I let my property a year ago and didn't tell Keystone Property Finance. I have a three year domestic mortgage (significant equity in it, never defaulted) and want to let Keystone Property Finance know and get consent to let for the final 24 months of my mortgage . Not sure how to go about this.
- I am looking for our family to move to give us all more space. We are thinking about buying another house in the near future. Our house is estimated to be worth £185k and we have about £70k remaining on the Keystone Property Finance mortgage. We would prefer to keep this house if possible and let it out with consent to let. Can you have a mortgage on two properties at the same time or do we first need to repay our current mortgage?
- I am looking to place our matrimonial home on rent due to job commitments and was wondering if this is possible to get consent to let. It is on a fixed rate mortgage with Keystone Property Finance until 2018 November
- I would like to buy a new home but can't afford to sell the current property with a Keystone Property Finance mortgage. Do you know acceptable terms for Keystone Property Finance to give consent to let? Is getting married and having children a good enough reason to to ask for consent to let?
- I would like some advice on how best to approach my mortgage company Keystone Property Finance regarding a 'Consent-to-Let' application. Is this something you can offer guidance on ?
- What happens if a borrower has already let the property for some years as an HMO and now want to go legit with Keystone Property Finance by getting consent to let ? (work on the basis that Keystone Property Finance had in the past given a standard mortgage previously)
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Keystone Property Finance consent to let Questions and Answers
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
One thing to remember when arranging a consent to let mortgage with Keystone Property Finance 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 regular 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
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 conditions are not complied with you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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 Keystone Property Finance