Need Help?
Need professional advice for your consent to let with Mortgage Agency Services? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Mortgage Agency Services consent to let: Q and A’s
- I have a Mortgage Agency Services home loan and am looking to obtain consent to let as I wish to move to another property belongings to me. It looks like might be able to assist. How do your fees work for this service?
- I am looking to move and let out my garden flat in Tower Hamlets. Having bought it in June 2009 and presently on a high ltv there is little equity in it. My mortgage is with Mortgage Agency Services. Do you know where Mortgage Agency Services stand on consent to let?
- I am a first time buyer in the process of trying to purchase a flat. However I am potentially also going to be moving abroad in the near future. I have told this to my financial adviser who has informed me as long as nothing has been signed or confirmed you can go ahead and apply for a residential mortgage with Mortgage Agency Services. Once that's complete if it transpires that I need to move abroad he said can apply for a consent to let from Mortgage Agency Services. How would the property be treated for CGT purposes? From what I can tell there is some sort of tax relief if you have had to vacate your property to move abroad for work. is that right?
- My husband is in the army and he has been posted overseas we would like to get something called 'Consent to let' from our lender Mortgage Agency Services. Can you help me?
- I'm gathering some information on whether consent to let is something available to me? We have a Mortgage Agency Services mortgage and are thinking of leasing the place out for two years, but cannot really afford to convert to a buy to let rate. The estate agent mentioned something about a content to let
- What are the circumstances under which Mortgage Agency Services will refuse a consent to let application?
- I am looking to place my residential property on rent due to job commitments and was curious if this is possible to get consent to let. It is on a fixed rate mortgage with Mortgage Agency Services until 2018 December
- I am potentially moving in with my boyfriend at his home and would like to rent out my property that I bought twelve months ago, 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 Mortgage Agency Services If I obtain consent would my mortgage payments increase?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Mortgage Agency Services consent to let information
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
One thing to remember when arranging a consent to let mortgage with Mortgage Agency Services is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. 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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
If you do not keep up the payments on your mortgage with Mortgage Agency Services your property may be repossessed