Need Help?
Need professional advice for your consent to let with Secure Trust Bank PLC? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Secure Trust Bank consent to let
- Can you confirm whether it is likely that I will obtain a consent to let with residential loan with Secure Trust Bank? My wife and I are planning to move to Bexley to be nearer to our kid’s college, but we are by no means certain whether the relocation will be permanent.
- Current apartment worth £125,000. Secure Trust Bank mortgage owing £32k with half a dozen years left. Get consent to let from Secure Trust Bank for current property and utilise income to pay off what is left of mortgage. Take out 70 % Secure Trust Bank loan on further property that I will consider to be my primary residence? Any reason I cant do this?
- At present I have a standard mortgage with Secure Trust Bank. My company has offered me a home as part of my job and would like to rent out my current home. The financial broker seems confident that it is a formality. Can you give me some information please?
- I want to purchase a second house having recently purchased a three bedroom ground floor purpose built maisonette on domestic mortgage. Planning to purchase next year. I am told that I may have to get a consent to let from Secure Trust Bank, my existing mortgage provider? What is the best way to go about this and gain the permission needed.
- I took a residential mortgage with Secure Trust Bank and my circumstances have changed due to family, can I apply for consent to let. What changes will affect me?
- I am looking for some generic information on consent to let. I currently have a mortgage in place with Secure Trust Bank. I have been given licence to sublet my flat from the managing agents and they asked for a copy of the consent to from Secure Trust Bank.
- I would like to rent out my house for three years at most. I would like to know if I could have a consent to let from my current mortgage lender Secure Trust Bank?
- I have fixed rate mortgage with Secure Trust Bank. I am going have to lease out my property due to necessity. Were I to apply for consent to let, will I have to pay a lot more interest?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Secure Trust Bank consent to let Questions and Answers
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 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 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Secure Trust Bank