Need Help?
Need professional advice for your consent to let with Scottish Widows Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Scottish Widows Consent to Lease Example Support Desk Enquires
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Scottish Widows have just granted me consent to let. After some effort, Scottish Widows have issued me with ‘consent to let’ confirmation . Mention is made of an assured shorthold tenancy. Can you explain what this is?
- I have recently been provided with a career opportunity overseas and wondering if it's a good idea leasing my property out. Will Scottish Widows permit me to change mortgage or grant consent to let? Should it not be available I will have to consider if I should accept the promotion. I wouldn't mind paying an increased amount as it is likely that I will come back and live in my home after twenty four months. My agenda here is not to to make money. Just love my house and wish to return to it at some point in the future.
- My property recently got consent to let on a residential loan with Scottish Widows with a view to changing to a B2L rate when the fixed term ends in a few months' time, so I'm uncertain if this adds to the complexity of the issue! Any guidance gladly appreciated.
- I have a mortgage with Scottish Widows however my husband and I will be emigrating to Australia in September. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- I already have a mortgage with Scottish Widows, but I am going to move out for approximately a year as we need to be nearer to my partner's parents. Will Scottish Widows give consent to let?
- My fiance and I are endeavouring to find out which mortgage providers are best for allowing consent-to-let without hiking up rates, and hopefully allowing more than two years where necessary. Is that something you can help with? We are particularly interested in Scottish Widows
- My work commitments are changing and this could result in mebe in different places every month and in the circumstances I wanted to get to grips with the process for applying for consent to let with Scottish Widows
- Do you have the address to which a Consent to Let request to be sent for Scottish Widows? Sorry about bothering you with this query.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Scottish Widows consent to let information
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 Scottish Widows 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 regular 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
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 terms are not adhered to you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform 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 Scottish Widows your property may be repossessed