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.
Sample questions relating to Nedbank consent to let
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Can Nedbank choose to operate a right to put a loading on my interest rate on a non-commercial mortgage that has just been approved for Consent to Let at any time, onto ‘rates in line with their BTL loans'?
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I am employed by a letting agency in loc and a potential tenant for the house has demanded evidence of the ‘consent to let’ from the owners lender Nedbank. Is there a new law that has triggered this question?I have not come accross this before, is this a new legal requirement?
- Me and my partner are intending to buy a garden flat with a £20,000 deposit with the intention of living there. However in the next two years the in-laws plan to move to France for a while so we would be moving into theirHaringey apartment to "housesit". In the event that we go ahead with a residential mortgage with Nedbank would there be any difficulties with negotiating consent to let ?
- I bought my maisonette in Harrow ten months ago and have a two year fixed rate mortgage with Nedbank. Looking to move in with my partner imminently and wish to rent my property. Just want to know the process.
- My OH and I have a owner-occupier mortgage with Nedbank and are deliberating on obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Ahead of applying We would be interested to know the ramifications of making the change and any facts that we need to be aware of.
- I have Nedbank mortgage and am considering letting the property. I am lead to believe that I would need a consent to let to do this...is that true ?
- I am trying to find out if it is possible to get a consent to let mortgage with Nedbank rather than a buy to let mortgage
- I have just recently purchased my home and took out a mortgage with Nedbank but my boyfriend has asked me to move in with him. Would I be allowed consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Nedbank consent to let information
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
If 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
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 restrictions are not strictly observed you may be in breach 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.
If you do not keep up the payments on your mortgage with Nedbank your property may be repossessed