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Need professional advice for your consent to let with Santander? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Santander consent to lease
- I have a 1st time buyer mortgage with Santander and will be joining the Royal Fleet Auxiliary in January. This is a civilian manned fleet run by the Ministry of Defence. I will be at sea four months on and three months in the UK. Whilst on assignment I want to lease out my house in Merton and live with my father when on shore. Will this be granted?
- In the coming months I would like to move house and I am enquiring if I can get consent to let on my house then get a mortgage approval for the new house so I can effectively bid without being part of a chain and then rent my property out once I move. Is it likely that Santander grant consent to let for a year if they know I am wanting to buy somewhere else or only if I am moving short term for career reasons?
- We recently sorted our rates for another fixed period with Santander. Subsequently, I went to an interview and basically I accepted the job offer in Ealing. I'm going to rent a one bed flat for the family in Hillingdon as we don't wish to sell the house and moreover we might come back within a couple of years.... We really have no idea whether it will work out. We have contacted Santander but we would appreciate your point of view please. How is it to obtain consent to let in that case as we secured a fixed 5 years rate we would not want to lose this rate.
- Can you explain "consent to let" to me? I live in a studio flat and its in good condition. It is on the market and I can't find a buyer. This is probably due to an longstanding dispute with the guy next door. I have had to mention it on the disclosure sheet. Mortgage is with Santander on a fixed rate. Someone mentioned I should get consent to let via Santander and lease the flat for a couple of years.
- My husband and I are looking to ask Santander for consent to let out our home in Hackney. We are moving overseas for three years and wish to rent out the property. I omitted to look into this when we got the Santander mortgage, and that was due to the fact that we never thought an opportunity like this would come up so was planning on occupying the property.
- My existing mortgage is with Santander, but I am going to move out for around 12 months as we need to be closer to my partner's mother. Will Santander grant consent to let?
- Is consent to let a less costly way of renting out your property? Isn't this a loophole for some people to exploit?
- My husband and I am looking into the option of letting out my flat with consent to let from Santander whist away travelling for three months
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Santander consent to let Questions and Answers
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
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
If your property is 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 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
Neglecting 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.
If you do not keep up the payments on your mortgage with Santander your property may be repossessed