Need Help?
Need professional advice for your consent to let with LendInvest? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to LendInvest consent to let
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My wife and I may need to let our Hillingdon home for a while due to a career opportunity. This will be short-term but perhaps for 6 years. Must I notify LendInvest or do I keep schtum?
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LendInvest have just granted me consent to let. After some effort, LendInvest have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. What is that?
- I am looking to emigrate to California . Rather than sell up, I wish to rent my current property out, just in case things fail to work out and I decide to come back within one or two years. The current mortgage is with LendInvest. Would I be able to remortgage with another mortgage provider on a much lower interest rate then apply for Consent to Let once the re mortgage is in place?
- My husband and I a house in MIddlesbrough and will be moving to Kent at the end of February. I have a letting agency and tenant lined up. I was proposing to keep quiet as I'm afraid LendInvest will insist that I change my mortgage rate for buy to let and am unable to afford that. I would like to seek a consent to let via LendInvest but am afraid if I open Pandora's box it would lead to a whole host of issues
- We are looking for some initial insight re consent to let? We have a LendInvest mortgage and are thinking of renting the place out for a couple of years, but cannot really afford to convert to a buy to let mortgage. The estate agent mentioned something about a content to let
- Due to job opportunities I will be relocating to Belfast and would like to rent the flat temporarily, please let me know what steps I need to take in order to achieve consent to let from LendInvest?
- My husband and I are intending to change lender to LendInvest for a fixed rate but during this period will need to rent the flat out for approximately 12 months. Do LendInvest consent to let on fixed rate mortgages and if so, what are the costs.
- Can you tell me how much the fees are and if LendInvest typically grant consent to let without switching to a commercial rate?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above LendInvest 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
Failure 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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them commencing legal proceedings 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 LendInvest