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.
Top Five Questions relating to Paratus AMC consent to lease
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My husband and I may need to lease our Enfield home for a while due to a new job. This will be short-term but perhaps for 6 years. Do I inform Paratus AMC or am I best advised to remain silent?
- I need to transfer my residential mortgage with Paratus AMC to a consent to let and looking for some advice please... I acquired my first home in Edgware fiveyears ago. After a new job opportunity I moved to Belfast, and four months ago got a residential joint-mortgage with my partner. I am inclined to keep with Paratus AMC and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if Paratus AMC turn me down what lenders should I approach.
- My granddaughter is going to work overseas for twelve months and would like to let her flat out. She has a Paratus AMC fixed rate mortgage on repayment and wants consent to let the property as well as transfer to interest only. What does she need to do?
- I am applying for a mortgage with Paratus AMC, but we hit a brick wall. My husband works in a boarding school, and as such living quarters is a perk of the job. We wish to buy a one bedroom ground floor purpose built maisonette to get on the ladder, and let it out while we're living at the school accommodation. I had thought Paratus AMC would grant consent to let from day one of the loan. It appears that I may be refused consent to let. Do you have any suggestions?
- I am looking to Paratus AMC to issue me with consent to let out my flat in Sutton. I am about to commence a PhD opportunity in Maastricht University, Netherlands
- I was wondering if you can assist. I require consent to let from Paratus AMC and would like to know if this option would be possible for me to switch to as I have to move back home to look after my father
- I was just wondering if there are any charges in obtaining consent to let on a leasehold property when I have a mortgage with Paratus AMC
- We need to contact Paratus AMC to enquire about leasing out our apartment. Do they post a document to me. Can I not download this from the site?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Paratus AMC 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
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 may result in 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 to have a license to do so from 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
Neglecting to advise 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