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.
LiveMore Consent to Lease Example Support Desk Enquires
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A friend of mine suggested that this winter I rent out my cottage and generate some income while I am on vacation. It only a short term measure for four weeks. Do I need consent to let from LiveMore?
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Soon to be packing up as my husband and I intend to relocate to New Zealandin Month, perhaps temporarily but potentially longer term. We have just applied to LiveMore for consent to let out the home in LiveMore. I have had a mortgage with LiveMore for 5 years and I have never had any arrears. LiveMore say, that even if they grant consent to let, that this is a short term consent for 12 months. Do I then need to reapply?
- My granddaughter is going to work overseas for three years and wants to lease her property out. She has a LiveMore fixed rate mortgage on repayment and wants consent to let the property as well as switch to interest only. What does she need to do?
- I am in the Royal Navy and intending to purchase a house using a LiveMore mortgage. I would like to obtain consent to let this house to my sister. In years to come I would live in the property with my wife and kids when I leave the Royal Navy. Is this achievable?
- Just wondering if if consent to let would be forthcoming from LiveMore enabling me to move back in with my parents for 12 months and save the cash to extend the lease on my property?
- My mortgage has been with LiveMore for seven years. I would like to apply for consent to let my house. I have been waiting for a response from LiveMore. Could you please check and help?
- Nine months into homeloan with LiveMore due to work reasons need to relocate. Is it possible to get buy to let or consent to let.
- Soon to remortgage my flat but I will potentially moving out in the near future and would be looking to rent it out. What would I need to do to get consent to let from LiveMore?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above LiveMore 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
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 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 terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 LiveMore