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.
Common questions relating to Paratus AMC consent to lease
- I have a residential Paratus AMC mortgage and am keen to obtain consent to let as I wish to move to another apartment belongings to me. It seems might be able to help. How do your fees work for this service?
- Is it permissible to let out our house minus consent to let from our lender? I am aware that initially we signed a form stating it wouldn't be a buy to let property and that we don't own other property. I know you can't use help to buy if you owned other property at the time, but what about property after the event? Can you acquire a further property, or inherit a property?
- My girlfriend and I (joint owner) are thinking of refinancing with Paratus AMC. I was doing some research concerning consent to let from Paratus AMC to understand the rules around potentially leasing our current property out (probably in a year or 2) if we moved away. The apartment in question was a first-time purchase for us about three years ago. Currently we are living there.
- I recently got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our one bedroom apartment in Brent we currently live in to rent out. Mortgage on the flat is with Paratus AMC. I don't want to put myself in a situation with two residential properties only to be refused consent to let.
- How do I go about getting a consent to let application form from Paratus AMC and how quickly can I get the consent?
- A work promotions now necessitates that Ibe in different places every month and as such I wanted to get to grips with the process for applying for consent to let with Paratus AMC
- We have a new mortgage however my girlfriend doesn't feel safe in the property due to other tenants in the block. I know that many lenders have a half year rule before consent to let - does this apply to all lenders. Is there any way Paratus AMC would allow it from the start?
- I would like to find out more about how to get consent to let on a property. In particular what is the procedure for consent to let if you have a residential mortgage with Paratus AMC
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Paratus AMC 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
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 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 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
Neglecting 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 Paratus AMC your property may be repossessed