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Need professional advice for your consent to let with State Bank of India UK? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
State Bank of India UK Consent to Lease Example Support Desk Enquires
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We've been renting my wife's old house out with "consent to let" from State Bank of India UK on a homeowner mortgage for the past three years. State Bank of India UK have put forward an ultimatum withdrawing their consent to let unless we convert to one of their "buy to let" deals.
- Eighteen months ago we bought our council home, in Lambeth,recently valued at £240k. It was paid for in full from our own funds, and we never had a mortgage. We are prohibited from selling (without repaying back a significant amount of the discount) before 5 years have expired. Regardless, we wish to hold onto it as a investment property to rent out. We are considering taking out a mortgage with State Bank of India UK. If State Bank of India UK refuse are there lenders that will allow this and grant consent to let?
- I have a residential property but I am moving with my girlfriend to a different city for career reasons and moreover close to her university. My preference is to keep my house but not sure I can afford a BTL rate. It will only be temporary -three years until my girlfriend completes her degree and I can sell, or move elsewhere. My mortgage is with State Bank of India UK. Is there a chance I won't be approved for consent to let?
- My fiance are locked into a fixed rate mortgage with State Bank of India UK for 2 years and have been living in the flat for nearly six months. Due a job opportunity abroad I need to vacate so I would like to rent the property out. How can I get consent to let from State Bank of India UK?
- I need to send the consent to let form by courier and need to know if State Bank of India UK have a regular postal address I can use as couriers ordinarily will not accept deliveries to PO Box addresses.
- My OH and I bought a place in Bristol with State Bank of India UK and am moving to rent a property in Cornwall due to work. Is consent to let from State Bank of India UKavailable? I am only looking to lease out the flat for 6 - 12 months before selling.
- I am considering renting my apartment will State Bank of India UK bill me for a consent to let letter?
- We are looking to find out more regarding consent to let from State Bank of India UK. Would an acceptable reason be parking problems and the property is too big for me to run at this moment in time?
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Caveats to be read in conjunction with the above State Bank of India UK 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
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
Should the tenure of your property be 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 restrictions are not strictly observed 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 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 State Bank of India UK your property may be repossessed