Need Help?
Need professional advice for your consent to let with Mortgage Express? 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 Mortgage Express (No 2) consent to lease
- I'm planning to remortgage our old 2 bed flat, currently let out under consent to let from Mortgage Express (No 2), onto a BTL rate as we are unlikely to be moving back into it now since we have our family home. So, I'm assuming I need a specialist financial adviser for this and I am not really au fait with what my options are. Can you recommend a good broker service specialising in BTL?
- My house had been tenanted for three years from 2009-2012 while working abroad. I have a letter dated March 2010 from my mortgage company granting consent to let. In the letter it explicitly states that the consent to let is valid for "the remaining term of the mortgage". I have not changed product since the letter was sent. I now plan to move house and rent out my existing house. However, my mortgage advisor has suggested that the 2010 consent to let letter may not be sufficient for the new lender Mortgage Express (No 2) for the property I wish to purchase.Can this be correct
- Am I required to inform Mortgage Express (No 2) of my intention to rent a shed out on the grounds of my property. Can you help clarify? I am seeking separate advice on the insurance, legal and tax side of things .
- Due to a change in family circumstances my husband and I are moving to my parents house while they are away and letting our home out. We are going to need for consent to let from Mortgage Express (No 2). Will this be forthcoming? We will need to refinance in the next twelve months will we then switch to a BTL product. We will definitely return to our property at within the next twelve months?
- How simple is it to get a consent to let from Mortgage Express (No 2) and what will it cost me? If I want to let out my property for a couple of months how easy is it to fluctuate between a normal mortgage and consent to let?
- I am looking to get consent to let on my Ealing maisonette from Mortgage Express (No 2). I will be leaving the UK for a year so wish to know if I am able to let my apartment
- I am interested in further information in relation to consent to let home loans, potentially moving our current mortgage with Mortgage Express (No 2) across to a consent to let one.
- I have a mortgage with Mortgage Express (No 2). I am thinking of moving out and renting out my property. Am I required to obtain consent to let ?
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 Express (No 2) consent to let Info
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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them could result in your insurance becoming invalid. 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
If your property is 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 restrictions are not strictly observed you may be in breach of the lease. This could potentially result in 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Mortgage Express (No 2)