Need Help?
Need professional advice for your consent to let with Saffron Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Saffron Building Society Consent to Lease Example Support Desk Enquires
- Resulting from a redundancy we are looking to move away from Hounslow and our flat, potentially to a job in Amsterdam but that means we will want to let the property but don't want the cancellation fees of existing Saffron Building Society mortgage which will be expensive.Can Saffron Building Society refuse to grant us consent to let?
- If I took out a new mortgage with Saffron Building Society how long do I have to wait for consent to let without changing from a 1st time buyer mortgage?
- I took out a normal mortgage with Saffron Building Society last December and then had to relocate for work, I am now looking to letting my flat out for a year whilst I am away. What are my chances of obtaining consent to let from Saffron Building Society, and what effect would this have?
- My mortgage with Saffron Building Society has been in place for just under six months but I recently found out I will soon lose my job. I would appreciate some how to go about applying for consent to let by Saffron Building Society
- If I am tied into a fixed rate with Saffron Building Society but am thinking of letting out my property, is there a cost for consent to let from Saffron Building Society and does the interest rate get uplifted?
- I currently have a mortgage with Saffron Building Society. I am considering renting and purchasing another property but this is all new to me. What is the procedure for consent to let?
- Saffron Building Society - consent to let potential. Do you have experience of the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
- I am interested in consent to let for my house mortgaged with Saffron Building Society. How do I proceed? Do I have to call Saffron Building Society and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Saffron Building Society consent to let Info
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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them may trigger your insurance becoming invalid. 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 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 inform 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Saffron Building Society