Need Help?
Need professional advice for your consent to let with Skipton Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Skipton Building Society consent to lease
- If I was to rent out my one bed flat with consent to let from Skipton Building Society, what proof would be required of the letting? If after 1 year I decided to let it on a series of short term rental, do I still need to supply proof to Skipton Building Society, or will they be happy as long as i keep up with the payments? For instance if I sublet the room separately at a later stage, is there any reason for Skipton Building Society to be informed and would they take issue?
- I have a ground floor flat but I am rarely there, exploring the option of renting it out. My mortgage is with Skipton Building Society, would I have to switch my mortgage rate or should I apply for consent to let?
- I'm nine months into a two year fixed mortgage with Skipton Building Society. The LTV is just 50%. I've got what I think is a really good deal on a two bedroom second floor purpose built flat in Tower Hamlets which I would not want to miss. It seems the only way I can get this other property is to take out some good chunk of equity. I'm thinking of letting the existing home which would more than cover the mortgage with Skipton Building Society. Can I get a consent to let from Skipton Building Society and ask for additional borrowing after it's rented?
- I recently got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our ground floor flat in Hounslow we currently live in to rent out. Mortgage on the flat is with Skipton Building Society. I don't want to put myself in a situation with two residential properties only to be refused consent to let.
- I am interested in understanding the Skipton Building Society consent to let process and prerequisites for granting.
- I own a house in Brent. I would like remortgage with Skipton Building Society and either change to buy to let or consent to let. I'm still within the Early Redemption Charge period so not sure if it would trigger the penalty payment?
- I would like some guidance on how best to approach my mortgage company Skipton Building Society regarding a 'Consent-to-Let' application. Is this something you can offer guidance on ?
- I am interested in consent to let for my house mortgaged with Skipton Building Society. How do I move forward? Do I have to contact Skipton Building Society and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Skipton Building Society consent to let Info
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 lease may prohibit 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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Skipton Building Society