Need Help?
Need professional advice for your consent to let with Nedbank Private Wealth Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Nedbank Consent to Lease Example Support Desk Enquires
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Due to problems with the area we live in (it's rough!), we are keen to relocate. As disposing of the house will trigger a hefty early repayment charges to Nedbank of £5000, we considered that it would best to let it out. So, we need to obtain a consent to let from Nedbank only 12 months. Will Nedbank grant consent?
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Finding myself in a pickle with a Consent to Let mortgage. Having sought consent to let my bank has requested evidence of a signed AST as a prerequisite to granting consent. If I get a signed tenancy agreement would I not be violating the terms of my existing mortgage?
- I have a colleague who is talking about leasing their house out and moving in with partner. The property is in Harrow and has a £95k home loan with Nedbank. What would she need to do to get consent to let if she decides to move forward.
- My husband and I are applying for a home loan with Nedbank, but we hit a brick wall. My husband is the deputy head in a boarding school, whereby accommodation is a benefit of the job. We wanted to buy a ground floor flat with a view to joining the property ladder, and rent it out while we're based at the school. I had thought Nedbank would be willing to give consent to let from the outset of the loan. It appears that we may not be able to get consent to let. Can you give me any suggestions?
- I’m about to finish the fixed rate period of my two year fix with Nedbank and go on to the standard variable rate. I would like to know whether consent to let from Nedbank is a foregone conclusion, if there are cost, and if there are time limits?
- Am I required to negotiate consent to let if I let to a family member (in my case my father now lives there and contributes towards the Nedbank mortgage)?
- Just wanted to know how to obtain a consent to let from Nedbank who I have a mortgage with. There is a remaining balance of 47k. The value of property is 110k. Its in my name but my wife and I would like to purchase a one bedroom apartment in Westminster we have seen together. How do we go about it?
- I am looking at an offer to work in France and have been advised that I need to let Nedbank know so my mortgage is under consent to let? Please could you clarify the best way deal with this?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Nedbank consent to let Advice
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 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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action 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 Nedbank