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
- Me and my wife are presently twelve months into a year fixed rate mortgage with Paratus AMC. Ideally we would like to buy a bigger second property in the next few months however would like to retain the first property and I was enquiring as to what reason we could put down on the consent to let application to get their approval
- I previously got consent to let from Paratus AMC in 2013 but never used it and have since remortgaged to a new lender. I recently applied for consent to let. I was informed that it would be given since I met the criteria. Yet recently got a letter informing me that I need to supply a letter from the DWP indicating that that are aware of my current situation before they can provide consent. They said this is policy but I have not been able to find these conditions on their site. I did complain about the inference that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £35 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to continue with them
- Having spent fifteen years in London, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to remortgage with Paratus AMC. In the relocation destination, we are be looking at a 3-bed property around the £350k mark. I would preferably like to retain my existing flat. Could I ask for Consent to Let from the proposed new mortgage provider Paratus AMC. If granted what are the likely requirements?
- My fiance and I are looking to lease out our ground floor flat in Newham in Feb. I would like some guidance on what I need to do. I've just moved our Paratus AMC mortgage to a fixed term and just need to understand the process and what information I'll need to get consent to let.
- Due to career opportunities I will be relocating to Belfast and would like to let out my flat temporarily, please let me know what steps I need to take in order to get consent to let from Paratus AMC?
- 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.
- Just wanted to know what needs to be provided to Paratus AMC in order to get consent to let? I just finished a three year fixed mortgage and thinking of moving to another flat with my boyfriend.
- Last month completed on a three bedroom first floor purpose built flat in Merton. I am first time buyer. I am moving Ireland next month, can I get consent to let from my lender Paratus AMC or do need to wait for at least 6 months?
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Caveats to be read in conjunction with the above Paratus AMC consent to let Questions and Answers
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
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 inform them may 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
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 breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform 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.
If you do not keep up the payments on your mortgage with Paratus AMC your property may be repossessed