Need Help?
Need professional advice for your consent to let with Platform Home Loans Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Platform Home Loans consent to let: Q and A’s
-
Always on the look out for a money making scheme I am contemplating leasing out my apartment and make money from it during my holiday. It’s only for four weeks. Will consent to let be needed from Platform Home Loans?
- My partner and I were intending to purchase a garden flat with 30k deposit with the intention of living there. Somewhat fortuitously the in-laws have plans to move to France for a couple of years so we would be moving into the in-lawsHillingdon apartment to "housesit". In the event that we proceed with a residential mortgage with Platform Home Loans would there be any difficulties with negotiating consent to let ?
- My friend is intent on letting his flat out in the absence of consent to let via his mortgage lender Platform Home Loans. He has been on an interest only mortgage for about 8 years now. Currently owes £99k, having bought the flat for around £125k. In the absence of obtaining consent to let from Platform Home Loans, exactly what sanctions is he likely to face?
- Is it possible? I have a Platform Home Loans mortgage on my house (with quite a bit of equity). I want to purchase and live in a second house but keep my old house and rent it out. How can I fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- My Platform Home Loans mortgage fixed rate expires in march and have to relocate for work soon after. Is it likely that I be able to both refinance and get consent to let?
- I am seeking consent to let for my flat as I am moving out for nine months currently fixed Platform Home Loans mortgage with three years which is up on May next year.
- I currently have my mortgage with Platform Home Loans and have been for the past twenty months and I am interested in finding out some more information about the possibility of getting 'consent to let’.
- Me and my partner and I have a mortgage with Platform Home Loans on our garden flat in Waltham Forest. We are hoping to buy a new house and move in there. How do I move my existing mortgage on to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Platform Home Loans 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 inform them could 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of 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 commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Platform Home Loans