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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.
Questions and Answers: Mortgage Express (No 2) consent to let
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We bought a mews house in 209 for just under 200,000 with Mortgage Express (No 2). My husbands career requires that we move to Cyprus and appreciate that I have to obtain consent to let from Mortgage Express (No 2). Do you have any experience of consent to let from Mortgage Express (No 2)?
- I have a shared ownership home in Ealing and will be looking to buy out the rest of the property. However, within the next six months I may be working abroad for a short period of time so would like to know what approach Mortgage Express (No 2) take to consent to let as I am considering a remortgage with them. I am by no means sure that a mortgage can be obtained on my property but as an aside can you provide further information on their consent to let policy?
- I have had a mortgage for six years with Mortgage Express (No 2). My other half has recently acquired a house in Havering and I have the opportunity to move in with him. Can I lease out my property with consent to let in case I need to move back? Also what legal documents must I provide Mortgage Express (No 2) with when filling in the consent to let form?
- I rented my house out for three years from 2009-2012 while working in New York. I have a letter dated June 2010 from my lender granting consent to let. In the letter it explicitly stipulates that the consent to let is valid for "the remaining term of the mortgage". I have not refinanced since the letter was sent. I now plan to move house and rent out my existing house. However, my financial advisor has suggested that the 2010 consent to let letter may not be acceptable to the new lender Mortgage Express (No 2) for the house I intend to buy.Can this be correct
- It is looking as though I may need to move to NYC for a couple of years, I have a property with a Mortgage Express (No 2) mortgage. Do I need to ask consent to let? Will they grant it?
- We have a letter to Mortgage Express (No 2) requesting consent to let signed and ready, but I'm not sure what address I should post this to. Can you please help me with the address?
- How do I go about getting a consent to let application form from Mortgage Express (No 2) and how quickly can I get the consent?
- My Mortgage Express (No 2) mortgage rate finishes this September can I go on a interest only with consent to let?
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Information to consider in supplemental the above Mortgage Express (No 2) consent to let Questions and Answers
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
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
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 conditions are not complied with you may be in violation of your covenants under the lease. This could trigger 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Mortgage Express (No 2)