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Need professional advice for your consent to let with Rooftop Mortgages Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: Rooftop Mortgages consent to let
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Rooftop Mortgages have just granted me consent to let. After some effort, Rooftop Mortgages have issued me with ‘consent to let’ confirmation . The conditions attached to the consent refer to an assured shorthold tenancy. What is that?
- I have just come off the phone to Rooftop Mortgages who have advised me that they discovered that I have been renting the studio flat even though it is on a resi mortgage. I needed to move a couple of years ago for career reasons, couldn't sell and so had little choice to rent out my property. Do you know what the connotations may be for me not obtaining consent to let?
- After 17 years in the capital, I'm considering relocating to be nearer to family. We've only been homeowners for the last two years and about to remortgage with Rooftop Mortgages. In the relocation destination, we are be looking at a 4 bedroom house around the £350k mark. Ideally, we would like to keep hold of my existing property. Could I ask for Consent to Let from the proposed new mortgage provider Rooftop Mortgages. If granted what are the likely requirements?
- Do the letting agents we rented through owe us a a legal obligation to have ensured that the landlord had consent to let from Rooftop Mortgages?
- I am deliberating on renting my flat will Rooftop Mortgages charge me for a consent to let letter?
- I have Rooftop Mortgages mortgage and am thinking of leasing out the property. I am lead to believe that I would require consent to let to do this...is that right ?
- Seven weeks ago I completed my homeloan with Rooftop Mortgages since when my boyfriend has proposed and we are deliberating whether to reside in his house or my property. Would I be allowed consent to let if I were to move into his property
- Soon to remortgage my flat but I will potentially moving out in the next year and would be looking to rent it out. Do Rooftop Mortgages give a consent to let letter?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Rooftop 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 Rooftop 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
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 violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Rooftop Mortgages your property may be repossessed