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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.
Mortgage Express (No 2) Consent to Lease Example Support Desk Enquires
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I currently let out my flat in Bromley. I didn't request consent to let. I moved to Ashford for work and was unable to cope with the traveling but was nervous that Mortgage Express (No 2) would charge me an arm and a leg so I decided to take the risk. I'm hoping to do the right thing now... basically continue leasing it but with consent. What are my next steps?
- I am about to contact my lender Mortgage Express (No 2) justifying the following logic for me asking for consent to let ; "I am struggling with the monthly mortgage amount and want to move back with my parents but can't sell. I wish to avoid failing to make payments and have thought about returning the keys. If you issued consent to let that may solve matters." What are the chances that this will result in a positive response?
- Under what circumstances will consent to let for a property be issued by Mortgage Express (No 2)? For what period of time do you have to have had the mortgage before consent to let can be negotiated with Mortgage Express (No 2)? By way of background we are going abroad for 20 months with my wife’s business and will need to rent our property. I would be interested in obtaining consent to let initially in order to put a tenant in it to cover the expense of the Mortgage Express (No 2) mortgage.
- My mortgage with Mortgage Express (No 2) has been in place for less than a year but I recently found out I am about be made redundant. I would appreciate some advice on obtaining consent to let by Mortgage Express (No 2)
- When it comes to consent to let from Mortgage Express (No 2) am I obliged to update them each time we get a new tenant and post them a duplicate of the tenancy?
- I would like to buy a new home but can't afford to sell the current property with a Mortgage Express (No 2) mortgage. Do you know the criteria for Mortgage Express (No 2) to grant consent to let? Is getting married and having children a sufficient reason to make the request?
- Is it possible to negotiate a consent to let from Mortgage Express (No 2) if I have an existing mortgage which has been in place for eight years?
- I want to apply for consent to let from my mortgage provider Mortgage Express (No 2) to lease out my property. I was thinking of moving in with myfiance. Can you tell me whether Mortgage Express (No 2) give consent to let in this scenario?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental 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
One thing to remember when arranging a consent to let mortgage with Mortgage Express (No 2) 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 regular 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 violation of your covenants under 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)