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Need professional advice for your consent to let with Marsden Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Marsden Building Society consent to lease
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I intend to let out my flat to some tenants who have asked me for evidence of my ‘consent to let’ from Marsden Building Society, my bank. Is this normal?
- If I decided to rent out my 2 bed flat with consent to let via Marsden Building Society, what evidence would be required of tenancy? If after twelve months I decided to let it on a number of holiday term rental, do I still need to supply proof to Marsden Building Society, or will they be content provided they receive payment each month? For instance if I rent the rooms out individually at a later stage, is there any reason for Marsden Building Society to know and would they care?
- I have had consent to let via Marsden Building Society for some time now and they now want to speak with me and I expect their agenda is to rid themselves of me. Are you able to assist?
- After retiring in June I acquired a “retirement home” for my wife and myself to live in. We would like to let our current property to our grandson and I have consequently asked Marsden Building Society for consent to let. What are the chances of this being given?
- 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 6 month thing before consent to let - does this apply to all lenders. Is there any way Marsden Building Society would allow it from the start?
- I wish to apply for consent to let from my mortgage provider Marsden Building Society to let out my house. I was thinking of moving in with myfiance. Can you tell me whether Marsden Building Society grant consent to let in this situation?
- I am currently in the process of applying for a mortgage through Marsden Building Society - It is possible that in the coming months I may decide to let out the property - how would I switch the 1st time buyer mortgage to a buy to let mortgage?
- Me and my partner want to consider the option of leasing out my apartment with consent to let from Marsden Building Society whist away travelling for a few months
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Marsden Building Society consent to let Questions and Answers
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 conditions are not complied with you may be in breach of 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 Marsden Building Society