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.
Keystone Property Finance consent to let: Q and A’s
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Do I need consent to let from Keystone Property Finance or can I let my garden flat without telling Keystone Property Finance and being forced to convert to a B2L loan?
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Are any options available to me if my application for consent to lease is rejected by Keystone Property Finance?
- Much to my surprise I have been offered an excellent job opportunity for 6 months abroad. I do have sufficient savings to pay the monthly Keystone Property Finance mortgage yet the buildings insurance stipulates continuous residency in order to be valid. Last winter the roof suffered storm damage but was repaired. Should there be any problems during the winter months I would find it hard to cover the repair costs. How likely is it that I will get consent to let by Keystone Property Finance for the time I am abroad?
- At the moment I am looking to acquire my first property however, I am self employed. I I would like to find a lender that allows short term letting with a homeowner mortgage so that I could lease out the property for no more than six months with long periods of absence without being required to switch to a buy to let rate. Are you able to advise me on how lenders would perceive this and in particular the approach taken by Keystone Property Finance.
- This is not a question specific to Keystone Property Finance but do mortgage companies usually supply the information I need for my Buy to Let or Consent to Let self-assessment tax submissions?
- I have tenants ready to move in and I have mortgage offer from Keystone Property Finance on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- My mortgage has been with Keystone Property Finance for ten years. I would like to apply for consent to let my home. I have been waiting for a response from Keystone Property Finance. Could you please check and help?
- Was wondering how to precure a consent to let from Keystone Property Finance who I have a mortgage with. There is a remaining balance of 57k. The value of property is 220k. Its in my name but my wife and I would like to purchase a maisonette in Greenwich we have seen together. How do we go about this?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Keystone Property Finance consent to let Info
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 inform them could trigger your insurance becoming invalid. 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 potentially result in 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Keystone Property Finance