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.
Sample questions relating to LiveMore consent to let
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Finding myself in a catch 22 with a Consent to Let mortgage. Having sought consent to let the lender has asked me to provide them with a signed AST before they will grant consent. If I get a signed tenancy agreement would I not be breaching the terms of my existing mortgage?
- Last month I received consent to let on a standard loan with LiveMore with aim of changing to a BTL rate when the fixed term ends in a few months' time, so I'm unclear if this complications to the issue! Any information gratefully appreciated.
- I am in the Royal Air Force and intending to purchase a property with a LiveMore mortgage. I would like to get consent to let the property to my sister. In years to come I would live in the property with my family when I leave the Royal Air Force. Will I need to apply to my superior officer to request permission to rent it out?
- Just a quick question as a bit in the dark and wondering if LiveMore conduct any checks when applying for a resi mortgage, I'm preferably looking to rent the property out and am unsure as to whether I should apply for consent to let. How likely are they to find out if I lease the place out?
- My OH and I bought a place in Bristol with LiveMore and am moving to rent a property in Oxford due to work. Is consent to let from LiveMorepossible? I only want to rent out the flat for six to nine months before selling.
- My mortgage company refuse to issue consent to let without a move in date confirmed with a tenant. How can I confirm this in the absence of consent to let? I can't be sure but I think my friend had a similar issue with LiveMore.
- LiveMore domestic mortgage. Will they issue consent to let a property for a couple of years? I reoccupy as an occupier.
- I am potentially moving in with my girlfriend at her home and would like to rent out my property that I acquired last summer, I'm just not sure of the process as my property is my first home. What do I need to do to obtain consent to let from LiveMore If I obtain consent will my mortgage payments go up?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above LiveMore consent to let information
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
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 terms are not adhered to you may be in violation 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 taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with LiveMore