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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My partner and I may need to let our Waltham Forest home temporarily due to me taking a sabbatical. This will be for a limited period but possibly for as long as seven years. Do I inform Nedbank or am I best advised to keep schtum?
- If I were to rent out my garden flat with consent to let by Nedbank, what proof would be required of tenancy? If after twelve months I decided to let it on a series of short term lets, do I still need to supply proof to Nedbank, or will they be happy provided i keep up with the payments? By way of example if I rent the rooms out separately at a later stage, is there any reason for Nedbank to be informed and would they take issue?
- The hope is to move home. My question is whether consent to let will be granted on my house for me to then obtain a loan offer for the new house so I can effectively bid chain free and subsequently let my house out once I move. Will Nedbank issue consent to let for 12 months? If so, and the rental goes to plan is it possible for the consent to let period be prolonged further?
- As things stand we have a three year fixed rate home loan with Nedbank that we're approximately a year into. Our situation has now changed and we wish to rent out our property for a year and whilst we relocate to Enfield. How do we mitigate the possibility of Nedbank refusing to grant consent to let.
- I'd like to know if on the balance of probabilities Nedbank will give consent to us letting out our house in Hounslow
- I want to take in in a lodger for my ground floor flat in Sutton which I live in. My mortgage is with Nedbank. How do I go about getting a consent to let?
- Do Nedbank give consent to let? I am just considering this in order to move house in the coming months
- I am looking to get consent to let with my Nedbank residential mortgage. It is a detached house. Will Nedbank grant consent on this basis? Or would it be regarded as an HMO?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Nedbank 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
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 could trigger 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 restrictions are not strictly observed you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them commencing legal proceedings 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 Nedbank