Need Help?
Need professional advice for your consent to let with Leek Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Leek BS consent to lease
- My wife and I have a domestic mortgage with Leek BS. My company has offered me a home as part of my job and want to lease out my current house. The mortgage advisor seems confident that it is an easy process. Are you able to provide me with some information please?
- My lawyers have served eviction orders on a tenant who had not paid rent. A Section 21 and section 8 have been issued. The tenant's defense for refusal to pay is based on the assertion that I I failed to obtain consent to let my one bedroom apartment from my lender Leek BS
- How long must one own a property before you can get consent to let ,the lender is Leek BS? If given, can it be cancelled months later?
- As a result of a change in family circumstances my wife and I are housesitting my parents house while they are away and letting our flat out. What is best way to approach my mortgage lender for a 'Consent-to-Let' ? We will need to remortgage in the next year will we then switch to a BTL mortgage. We intend to return to our home at the beginning of 2017?
- I am thinking about moving in with my partner but do not want to to sell my flat. How do I go about getting consent to let from Leek BS, and how likely is it that this will be granted?
- I am looking to get consent to let with my Leek BS residential mortgage. It is a 3 bedroom house. Will Leek BS grant consent on this basis? Or would it be regarded as an HMO?
- Seven weeks ago I completed my homeloan with Leek BS since when my boyfriend has proposed and we are deciding whether to reside in his house or my property. Would I be granted consent to let if I decided to move in with him
- I have a granny flat attached to our home. Do we need consent to let this from Leek BS? If so, what is the process if I wish to transfer my mortgage to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Leek BS 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
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 restrictions are not strictly observed you may be in violation 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 taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Leek BS your property may be repossessed