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.
Frequently asked questions relating to LiveMore consent to lease
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I acquired a flat in 2010 for 185,000 with LiveMore. My husbands career requires that we move to Belgium and appreciate that I have to apply for consent to let from LiveMore. Do you have any experience of consent to lease from LiveMore?
- I am wanting to email my lender LiveMore setting out the following logic for my request for consent to let ; "I am having difficulties paying the mortgage and thinking about a to move back with my parents but can't sell. I am very concerned by defaulting on the mortgage and have thought about returning the keys. If I had consent to let that may solve matters." Is this likely to result in a positive response?
- Me and my OH and I I have a domestic mortgage with LiveMore but I would like to occasionally let the property out on AirBnB....do I require consent to let from LiveMore?
- My fiance have an offer accepted to buy a property, we have a deposit of between 10-15% for a residential mortgage with LiveMore. The one concern is we are due to leave the country in two months for work. We are using a financial adviser. She says if you tell this to the lender in advance you will need to get a buy to let. Do go ahead with residential mortgage with LiveMore, shortly thereafter seek consent to let? Alternatively, do we try and speak to LiveMore at this point and reveal there is a chance we will move abroad in the future (nothing is confirmed concerning the move abroad) and see if they agree in advance that it should not be an issue
- We are looking to place my house on rent due to work commitments and was wondering if this is possible to get consent to let. It is on a fixed rate mortgage with LiveMore until 2018 November
- I'm possibly going to Hong Kong for a year with work. Planning on taking the husband with me and hoping to rent our Sutton property in the meantime on a short term basis to make matters more cost effective. I was just wondering where I can I get a consent to application form from
- We have a new mortgage however my girlfriend doesn't feel safe in the property due to other tenants in the block. I know that many lenders have a six month thing before consent to let - does this apply to all lenders. Is there any way LiveMore would allow it at the outset?
- I want to apply for consent to let from my lender LiveMore to lease out my flat. I was thinking of moving in with mypartner. Can you tell me if LiveMore allow consent to let in these circumstances?
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Caveats to be read in further 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
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 breach 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 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 LiveMore