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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.
Rooftop Mortgages Consent to Lease Example Support Desk Enquires
- Hi, I have a mortgage on an apartment with Rooftop Mortgages and I am pondering on the idea of renting the property out. Can I do this without changing my mortgage or obtaining consent to let from Rooftop Mortgages?
- I have a mortgage with Rooftop Mortgages on a flat and I am intending to let it out and rent another house due to changes in personal circumstances - I want to move to a new location, and to live in a bigger property with my partner. I applied for consent to let and recently got a response refusing as they determined that I want to invest. I as at a loss as to what to do now. I find myself at risk since I already have rented a new home and would have to pay both the Rooftop Mortgages mortgage and rent, which could put me in financial risk. The matter is urgent because a prospective tenant is waiting
- We are FTBs, currently renting. We would ideally like to purchase a one bedroom apartment in Islington. We want to move there, but will need to wait for a job - perhaps 2-3 years. Do we have to get a B2L mortgage? Would it be possible to have a residential mortgage with Rooftop Mortgages, because we intend to move there soon? Alternatively could we live there for half a year, then start renting it with consent to let from Rooftop Mortgages? I'm only interested in suggestions that are completely legitimate, and wouldn't breach the terms of the mortgage with Rooftop Mortgages.
- Good morning, I have consent to let my house with Rooftop Mortgages and am about to give my tenant two months notice as I wish to sell the property. I am worried about the property being empty once the tenant goes and finding a purchaser. I have never missed a payment on the account, is it likely that I would be able to take payment holidays until sold?
- It is looking as though I may need to move to NYC for a couple of years, I have a property with a Rooftop Mortgages mortgage. Do I need to ask consent to let? Will they be forthcoming?
- Is it possible that Rooftop Mortgages would have an internal record as to whether consent to let was granted for a specific property?
- Is it possible to negotiate a consent to let from Rooftop Mortgages if I have an existing mortgage which has been in place for eight years?
- I need to lease out my apartment to be closer to my daughter's college and take care of my father. Do I need consent to let from my lender Rooftop Mortgages?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental 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
If your property is leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in violation of your covenants under 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 commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Rooftop Mortgages