Need Help?
Need professional advice for your consent to let with Rely Mortgages? 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 Rely Mortgages consent to let
- My friend has been renting her house from the same landlady for nearly 2 years. For the last year my friend has been receiving letters from Rely Mortgages (she hasn't opened them-it is clear from the envelope). At first she reposted them to her landlady's address. I was a bit suspicious as none of her landlady's post was meant to be going there. I therefore went to my friends house and called Rely Mortgages on her behalf. The lady I called at Rely Mortgages asked all sorts of questions, the landlady's name her current address, information on the tenant and then said they would look into whether she could legallylet out the property or if it was an offence with no consent to let. Are you able to shed anymore light on this?
- I have had a mortgage for five years with Rely Mortgages. My other half has bought a property in Southwark and I have the chance to move in with him. Can I lease out my apartment with consent to let in case I need to move back? Also what legal documents must I provide Rely Mortgages with when filling in the consent to let application?
- Me and my wife bought a house ten years ago on shared ownership basis, I own half by way of bank loan and rent the other half. Last year I purchased a new property. I let out my first property and moved to my new property. I got consent to let from my lender and I was under the assumption I had consent to let from the housing association. Last week I had a phone call from the housing association advising they had nothing on record to say I had obtained permission to sublet. What do I do now?
- I am looking for some feedback as to whether consent to let from Rely Mortgages is the right option. I acquired my house last January by porting a Rely Mortgages mortgage product. My fixed term expired 4 months ago I'm probably going to be moving in with a new partner. I would prefer not to sell my property yet because I have no idea as to whether the new move will prove successful. I just wanted an idea of whether a consent to let from Rely Mortgages would be possible?
- I am considering moving abroad for work and would like consent to let from Rely Mortgages whilst I am away. Is the way forward to complete the consent to let form and send it off in the post to Rely Mortgages? Letting the property isn't to make money but to keep the property in case things don't turn out as well as we hope
- I am one year into a five year residential mortgage with Rely Mortgages. Just wondering if it's permitted to let out the flat on my existing mortgage. Will Rely Mortgages issue consent to let?
- Will Rely Mortgages choose to exercise a right to change the rates on a homeowner mortgage where Consent to Let at any time, onto ‘rates equivalent to their Buy to Let range'? Can one refinance on a consent to let with Rely Mortgages?
- Would you be able to help me? What do we need to do to obtain consent to let from Rely Mortgages? And what are the costs involved?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Rely Mortgages 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
One thing to remember when arranging a consent to let mortgage with Rely Mortgages is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. 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 lease may prohibit you from letting or require that you obtain the consent of 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
Omitting 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.
If you do not keep up the payments on your mortgage with Rely Mortgages your property may be repossessed