Need Help?
Need professional advice for your consent to let with LiveMore Capital? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: LiveMore consent to let
- We have a standard variable rate mortgage with LiveMore. This has been in place since 2009. We are thinking about leasing out our house and renting in a village close to our daughter’s school until we find the right home to purchase. Do LiveMore normally give consent to let and do they apply an increase to the mortgage rate?
- A few months ago I rented out my garden flat having been given Consent to Let with my mortgage lender. Six months have now gone by and they have increased my payments as forewarned. I am unable to swap to a preferable product with them, as they will revoke my consent to let. If I was to go with another provider for instance LiveMore, would I need to obtain a Buy To Let mortgage or could I just refinance and obtain consent to let?
- I plan to move house. My question is whether consent to let will be given on my house for me to subsequently get a mortgage for the new house so I can put in an offer without being part of a chain and then rent my house out once I move. Will LiveMore grant consent to let for a year? If so, and the rental goes to plan can the consent to let time frame be continued?
- My lawyers have served eviction orders on a tenant who is in arear of rent. The relevant claims have been issued. The tenant's defense for refusal to pay is based on the claim that I I failed to obtain consent to let my three bedroom ground floor purpose built flat from my mortgage company LiveMore
- How do I go about getting a consent to let application form from LiveMore and how quickly can I get the consent?
- LiveMore - consent to let potential. Do you have experience of the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
- Just looking for some help. I already have a mortgage in place with LiveMore. I have had licence to sublet my apartment from the managing agents and they asked for a copy of the consent to from LiveMore.
- I would like to find out more about how to get consent to let on a property. In particular what is the procedure for consent to let if you have a domestic mortgage with LiveMore
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above LiveMore consent to let Info
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
If 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 notify them may result in your insurance becoming null and void. 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 provisions in the lease may prevent 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 LiveMore your property may be repossessed