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.
Examples of recent questions relating to Platform Home Loans consent to let
- We have a homeowner mortgage with Platform Home Loans. This has been in place for four years. We are thinking about letting out our house and renting in a village near our kid’s school until a suitable home becomes available to purchase. Do Platform Home Loans ordinarily give consent to let and if so, what are the financial implications?
- I have a Platform Home Loans mortgage on an apartment I own, in Greenwich. Last month, resulting from a change in personal circumstances I decided to rent out the apartment, and rent an alternative property in a different area within same loc. The personal circumstances that altered is that my partner moved in, and the flat is not large enough for our needs. I do not wish to sell the flat because the current market value is 15% less than when I acquired the property in 2004. I contacted Platform Home Loans for a consent to let which was refused because they considered that I wanted to invest in the flat. Any insight would be greatly appreciated, as i am at the end of my tether. There is a sense of urgencybecause there is already a prospective tenant waiting for this consent to let and may look elsewhere.I look forward to hearing from you
- We have just sorted our rates for another fixed five years with Platform Home Loans. However, I went to an interview and basically I accepted the job offer in Harrow. I'm going to rent a small flat for the family in Ealing as we don't wish to sell the house whist there is a chance that we come back within a couple of years.... We really have no idea how things will go. We called Platform Home Loans but we would like also your point of view please. How is it to get consent to let in that case as we secured a fixed 5 years rate we would not want to change.
- I have just been presented with an excellent job opportunity for 9 months abroad. I do have sufficient savings to meet the monthly Platform Home Loans mortgage however the block insurance stipulates that the property must be occupied in order not to be invalidated. Last winter the roof was damaged but repaired. If there happened to be any problems during the winter months I would find it hard to cover the remedial works. Will I qualify for consent to let by Platform Home Loans for the time I am overseas?
- Wewould like to let our home and purchase another. Can Platform Home Loans refuse to grant me consent to let?
- My lender refuse to issue consent to let until I have a move in date confirmed with a tenant. How can I confirm this whilst lacking consent to let? I am not sure but I think my friend had a similar issue with Platform Home Loans.
- My fiance and I are interested in discovering more about the Platform Home Loans consent to let procedure and conditions for granting.
- I have a consent to let letter that I have obtained from my management company. I presume I need to send this with a letter to Platform Home Loans with a view to securing consent to let from them. What address shall I post it to?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Platform Home Loans consent to let Advice
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is 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 conditions are not complied with you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Platform Home Loans your property may be repossessed