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
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We've been renting my wife's old house out with "consent to let" from Keystone Property Finance on a regular mortgage for the previous three years. Keystone Property Finance have put forward an ultimatum revoking consent to let if we do not switch to one of their "buy to let" deals.
- Can you confirm whether it is possible to gain consent to let with first time buyer loan with Keystone Property Finance? My husband and I are intending to relocate to Sutton to live nearer to our children’s school, but we are uncertain whether the move will be permanent.
- I have found myself in the accidental landlord category and failed to inform Keystone Property Finance. I had to vacate my flat for family reasons, so now live in another part of the country. I originally tried to sell the flat, but prices were deflated, which meant I was in negative equity. This was three years ago in 2012, which has since seen the property price increase and has allowed me time to accumulate savings. I am in now in a position where I could transfer to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Keystone Property Finance that I have been letting without consent to let? I appreciate that I shouldn’t have done what I did, but circumstances backed me into a corner. Can I change to a BTL without Keystone Property Finance knowing what I’ve done?
- I have been serving in the armed forces for three years and intending to purchase a property using a Keystone Property Finance mortgage. I would like to obtain consent to let the house to my mother and father in law. In years to come I plan to live in the property with my family when I leave the armed forces. Is this possible?
- I am considering renting my property will Keystone Property Finance bill me for a consent to let letter?
- I have a mortgage with Keystone Property Finance on a two year fixed term contract. I could have an opportunity for a teaching job overseas next July. Would I be eligible for consent to let by Keystone Property Finance if I took this opportunity overseas?
- Do you know if there is usually a required loan to value amount before Keystone Property Finance will consider consent to let?
- I wish to get consent to let from Keystone Property Finance for a few years at which point I can turn it into a B2L. Is this possible
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting 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
If your property is leasehold, the lease may prohibit 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
Neglecting 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 Keystone Property Finance