Need Help?
Need professional advice for your consent to let with St James Place Bank? 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 St James Place consent to let
- I have been granted consent to let from St James Place for some time now but they now want to speak to me and I expect their motivation will be to get rid of me. Do you have any ideas on what I can do next?
- My husband and I have a normal mortgage with St James Place. I have been offered a house as part of my job and want to lease out my current home. My financial broker seems confident that it is an easy process. Are you able to provide me with some information please?
- I currently have a mortgage offer with St James Place. I anticipate that I will complete in the coming weeks, however I may potentially be posted abroad for work. Would it be possible for me to receive consent to let from St James Place shortly after completing. Do I have any other options?
- I bought my maisonette in Lambeth twelve months ago and have a 2 year fixed rate mortgage with St James Place. Looking to move in with my partner imminently and would like to let out my property. Would like to be better informed as to the process.
- Just wondering if I would be able to get consent to let from St James Place enabling me to move back in with my mother and father for 12 months and save the cash on the lease extension for my property?
- I wish to apply for consent to let from my mortgage provider St James Place to rent out my flat. I was thinking of moving in with mypartner. Can you tell me if St James Place issue consent to let in these circumstances?
- I am looking at some alternative lifestyle. I have a St James Place mortgage, if I become a Australian resident but wish to rent my UK house, do I need to get consent to let from St James Place to do this ?
- I am trying to find out if St James Place will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above St James Place consent to let Advice
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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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
If your property is 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 breach of your covenants under 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with St James Place