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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.
Sample questions relating to Mortgage Express (No 2) consent to let
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Can you clarify if consent to let obligatory from Mortgage Express (No 2) or can I lease out my garden flat without telling Mortgage Express (No 2) and being forced to convert to a buy-to-let mortgage?
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Soon to be packing up as my partner and I plan to return to Floridain Month, initially short-term but potentially longer term. I'm in the process of writing to Mortgage Express (No 2) to obtain consent to let out my property (we have already found tenants). The mortgage has been in place with Mortgage Express (No 2) for 6 years and I am up to date with payments. Mortgage Express (No 2) say, that even if they do agree, that this will be a temporary arrangement for 12 months. What happens after one year?
- My flat valued at £250k. Remaining mortgage £32k with six years to run. Seek consent to let via Mortgage Express (No 2) for current flat and make use of rent to pay off the last few years of mortgage. Apply for sixty % Mortgage Express (No 2) mortgage on new house that becomes my primary address? Can this be done?
- We have a flat in Tower Hamlets which we acquired as a new-build approximately seven years ago. As the family is growing we require more space. We've found a property in Merton that we're going to buy and want to keep the flat as an investment to rent out. The mortgage is with Mortgage Express (No 2) and we've found a tenant who will pay rent in excess of the monthly mortgage payment. The question is, can we retain the repayment mortgage with Mortgage Express (No 2) so we effectively paying off our loan on the property or must we to move it to a buy-to-let product?
- I am looking to get consent to let on my Redbridge apartment from Mortgage Express (No 2). I will be going abroad for 10-12 months so wish to know if I can rent out my apartment
- I would be interested to know what information I should include in a letter seeking consent to let my house in Camden? I would like to send a request to my mortgage provider Mortgage Express (No 2).
- Do you know if there is normally a required LTV before Mortgage Express (No 2) will give consent to let?
- We are looking in more information regarding consent to let from Mortgage Express (No 2). Would a valid reason be issues with neighbours and the house is too big for me to run at this moment in time?
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Important warnings to consider in in addition to the above Mortgage Express (No 2) 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
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 notify them may 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 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 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 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