Need Help?
Need professional advice for your consent to let with Paratus AMC 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 Paratus AMC consent to let
- If I was to let out my 2 bed flat with consent to let via Paratus AMC, what evidence would be required of tenancy? If after twelve months I decided to let it on a number of holiday term rental, do I still need to supply evidence to Paratus AMC, or will they leave me alone provided they receive payment each month? E.G. if I rent the rooms out separately at some point in the future, is there any reason for Paratus AMC to know and would they take issue?
- Due to redundancy we are looking to move away from Hackney and our house, potentially to a job in Copenhagen but that means we will want to let the property but don't want the cancellation fees of existing Paratus AMC mortgage which will be expensive.On what basis is 'consent to let' issued by Paratus AMC?
- I applied for consent but I did not get it as I did a remortgage in July but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. As a backup plan I can remortgage with Paratus AMC but will they give me consent straight away?
- Require some information about renting a property and consent to let. Later this year I plan to move in with my partner. The local authority would like to rent my flat for three year commitment with rent and service charges covered. The flat was purchased with a mortgage by Paratus AMC. Please advice
- I'm thinking about letting my property on a residential mortgage with Paratus AMC what is the procedure for getting consent to let?
- My husband and I are intending to switch mortgage provider to Paratus AMC for a fixed rate but during this period will need to rent the house out for about 12 months. Do Paratus AMC consent to let on fixed rate mortgages and if so, what are the procedures.
- Prospective tenants are about to move into my property and I have mortgage offer from Paratus AMC on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- What, if any, income requirements do Paratus AMC set for consent to let on an existing homeowner mortgage?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above Paratus AMC consent to let Info
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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 conditions are not complied with you may be in violation of the lease. This could potentially result in 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.
If you do not keep up the payments on your mortgage with Paratus AMC your property may be repossessed