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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.
Top Five Questions relating to Mortgage Express (No 2) consent to lease
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I have a standard mortgage over my property in loc and intend to move to country for two years. During this time frame it would be ideal if I could let out my apartment. My lender says I cannot have consent to let. I wish to avoid taking out a buy to let mortgage as it’s only a short term option that I am abroad for.
- I have a residential Mortgage Express (No 2) mortgage and am looking to obtain consent to let as I would like to move to another home that I own. It looks like might be able to assist. How do your fees work for this service?
- I'm just looking here for a a relative as he’s at work who has a mortgage with Mortgage Express (No 2). He wanted to find out if there is a charge for granting consent to let? He has been in his property for two years but has been offered a job overseas away for 2 years and is considering letting the apartment out while he is away.
- How many months after taking out a new mortgage will a consent to let be likely to be given by Mortgage Express (No 2)? By way of history I bought my flat in Lewisham nearly two years ago and am currently on a fixed term for 3 years. I subsequently met my partner and now we are looking at moving in to his place. I intend to get a better fixed term next June. I assume that I would have to wait at least half a year before I could request a consent to let. Is that correct?
- It would be helpful to know if Mortgage Express (No 2) are likely to give consent to us letting out our home in Tower Hamlets
- I was just wondering if Mortgage Express (No 2) were picky when considering consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- I wish to apply for consent to let from my mortgage provider Mortgage Express (No 2) to lease out my house. I am potentially moving in with myfiance. Do Mortgage Express (No 2) allow consent to let in this scenario?
- I am currently refinancing and looking into the flexibility of certain mortgage providers when it comes to consent to let. Mortgage Express (No 2) is one of the mortgage companies I am considering. How accommodating are they are far as consent to let is concerned?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Mortgage Express (No 2) consent to let Advice
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
If 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 notify them could trigger your insurance becoming null and void. 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 conditions are not complied with you may be in violation of your covenants under the lease. This could potentially result in 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 obtain their consent in writing.
If you do not keep up the payments on your mortgage with Mortgage Express (No 2) your property may be repossessed