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 let: Q and A’s
- My question does not specifically concern consent to let, I was hoping that you have an address or telephone number for a dedicated LiveMore help desk who processes consent to let applications. LiveMore has a mortgage over my flat.
- My brother and his partner currently lodge with me at my flat. Next Summer I would like to move out of the property and in with my partner. Is it possible to get consent to let from LiveMore after only having the mortgage for less than half a year?
- Am I required to inform LiveMore of my intention to rent my property out as a holiday let for twelve weeks. Can you help clarify? I am seeking separate advice on the insurance, legal and tax side of things .
- My gf and I might have to lease out her flat, and I have a query regarding obtaining consent to do so. I know I need to notify LiveMore and get a consent to let or transfer to a buy to let mortgage. Given that the property is leasehold do we need consent to let from the freehold company?
- We have already been told to write a letter to LiveMore to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
- Were I to let my property with consent to let from LiveMore will there be any rate uplift? I am currently on a fixed rate for two years.
- I have a mortgage with LiveMore but would like to rent my house out and move in with my GF and baby what would I have to do to get consent to let?
- My wife and I may have to lease our home temporarily due to a new job. This will be for a limited period but perhaps for twoyears. Should I tell LiveMore or do I keep schtum?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental 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 conditions are not complied with you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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