Need Help?
Need professional advice for your consent to let with The Mortgage Lender Limited? 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 The Mortgage Lender consent to lease
- I am looking to emigrate to Germany . As opposed to finding a buyer, I wish to lease my existing property out, just in case things fail to work out and I decide to return in one or two years. The current mortgage is with The Mortgage Lender. Would I be able to remortgage with another mortgage provider on a much lower interest rate then apply for Consent to Let after the refinancing is in place?
- I am thinking of applying for consent to let from The Mortgage Lender as my personal circumstances have altered. My stepdaughter was starting university and I concluded that we would move nearby and decided to buy a house rather than spend the money on renting. After having purchased the house I have fallen out with my step daughter and she refuses to move in. Given that the whole idea was for her and the house location is not particularly ideal for my work I would like to leave and rent out the property
- Having spent 17 years in the capital, I'm considering relocating to be nearer to family. We've only been homeowners for the last two years and about to refinance with The Mortgage Lender. In Enfield, we are be looking at a 3-bed house around the £275k mark. Ideally, we would like to retain my existing property. Could I ask for Consent to Let from the proposed new lender The Mortgage Lender. If granted what are the likely requirements?
- Fifteen years ago I was issued with permission by the local authority and my lender The Mortgage Lender to convert a small barn into a granny annex, conditional on it not being disposed of separately from my property. My parents passed away some years ago and I would now like to let it out with consent to let from The Mortgage Lender. Do you think this can be negotiated?
- Just wondering if if consent to let would be forthcoming from The Mortgage Lender enabling me to move back to my mother and father for 12 months and save the money on the lease extension for my property?
- What is the process for getting a consent to let application form from The Mortgage Lender and how quickly can I get the consent?
- Please can you provide me with details of how to proceed with gaining consent to let from The Mortgage Lender and what, if any, fees apply.
- I am planning on relocating within the next 6 months and would like to lease my house out. My current rate is fixed with The Mortgage Lender. I am concerned that a 1% increase would be too much if that was a condition of getting consent to let
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above The Mortgage Lender 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
One thing to remember when arranging a consent to let mortgage with The Mortgage Lender 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 standard 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 conditions are not complied with you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise 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 The Mortgage Lender