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Need professional advice for your consent to let with Sainsburys Bank? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Sainsburys Bank consent to lease
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My husband and I bought a flat in 209 for 155,000 with Sainsburys Bank. I got married to someone in the RAF so moved in to married quarters in Qatar and realise that I need to apply for consent to let from Sainsburys Bank. Will they grant permission?
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I intend to let out my flat to some tenants who have asked me for a copy of my ‘consent to let’ from Sainsburys Bank, my mortgage lender. Why would they ask for this
- Me and my brother jointly own a small apartment in Lewisham with a Sainsburys Bank mortgage. I am looking to vacate and purchase a house with my fiancee. How do I deal with leasing out my room? Do I need consent to let by Sainsburys Bank. My brother will stay in the property
- After having retired last month I acquired a “retirement home” for my wife and myself to move to. We would like to let our current property to our son and I have consequently contacted Sainsburys Bank for consent to let. I was just seeking a general view on whether Sainsburys Bank currently allows it?
- I would like to send the consent to let application by courier and wanted to know if Sainsburys Bank have a regular postal address I can use as couriers usually will not accept deliveries to PO Box addresses.
- My wife and I are having to move to Australia for a couple of years for my job but I don't want to change my mortgage to BTL as the intention is to move back into it when I return. Do you know if Sainsburys Bank charges additional interest? Is there any way around this?
- Sainsburys Bank domestic mortgage. Will they issue consent to let a property for three years? I reoccupy as a resident.
- Will Sainsburys Bank choose to exercise a right to convert the rates on a standard mortgage where Consent to Let at any time, onto ‘rates equivalent to their Buy to Let range'? Is it possible to refinance on a consent to let with Sainsburys Bank?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Sainsburys Bank 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
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 null and void. 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 conditions are not complied with 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 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 Sainsburys Bank your property may be repossessed