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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 let: Q and A’s
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I’d appreciate your advice if you have had experience asking for Consent to Leaseforfor less than a year from Rooftop Mortgages or whether you have any tops as to how such permission is obtained.
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I intend to let out my flat to some tenants who have asked me for a duplicate of my ‘consent to let’ from Rooftop Mortgages, my mortgage lender. Why would they ask for this
- My brother and I may need to lease our home out for a while due to a career opportunity. This will be for a limited period we would possibly like a consent to let our property. We already have a Rooftop Mortgages mortgage. What are the fees involved and time limits on consent to let agreements?
- What is the procedures for obtaining consent to let from Rooftop Mortgages? What information do they need? is there a fee to pay? How long the consent is valid for? Do I need to renew it annually? What if I obtain a consent but decide not to let out the property?
- Wewould like to rent out the family home and buy other. What do I need to supply Rooftop Mortgages to obtain consent to let?
- I would like consent to let on my Sutton apartment from Rooftop Mortgages. I will be going abroad for a year and so want to know if I can rent out my apartment
- I am thinking about moving in with my partner but would rather not to sell my flat. What is the process for applying for consent to let from Rooftop Mortgages, and what are the chances that this will be granted?
- Where I have an existing normal mortgage with Rooftop Mortgages and am planning to rent it out in the future will I be issued with consent to let? What is the procedure and what needs to be done next?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Rooftop Mortgages 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
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Rooftop Mortgages your property may be repossessed