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.
Recently asked questions relating to The Mortgage Lender consent to lease
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Just wondered if The Mortgage Lender activate a right to change the rates on a standard mortgage where Consent to Let at any time, onto ‘rates equivalent to their Buy to Let loans'?
- May I ask if it is probable that I will receive consent to let with non-commercial loan through The Mortgage Lender? My wife and I are looking to move to Lambeth to be closer to our children’s college, but we are by no means certain whether the relocation will be beyond a year or two.
- I've been offered a job overseas and considering whether it's a good idea leasing my house out. Will The Mortgage Lender allow me to switch mortgage or grant consent to let? Should it not be available I will have to think about whether it's worth taking the job. I have no objection to paying more as it is likely that I will return and live in my home after 1 to 3 years. My agenda here is not to profit. Just love my house and wish to return to it one day.
- We are looking to rent our garden flat out. We have made an offer on another property for us to buy and have a tenant to move into ours. I believe I have to ask our lender The Mortgage Lender for consent to let. I wonder if there is a standard consent to let request letter I can copy?
- How do I go about getting a consent to let application form from The Mortgage Lender and how quickly can I get the consent?
- I'm soon to change mortgage provider to The Mortgage Lender for a fixed rate but during this period would need to rent the apartment out for about one year. Do The Mortgage Lender consent to let on fixed rate home loans and if so, what are the costs.
- We are looking to place my house on rent due to work commitments and was wondering if this is possible to negotiate consent to let. It is on a fixed rate mortgage with The Mortgage Lender until 2018 December
- Does my LTV need to be at a certain level to allow me to apply for a consent to let from my mortgage lender The Mortgage Lender. Will it make a difference that I only recently out the mortgage two months ago?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental 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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them may result in your insurance becoming invalid. 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 to have a license to do so from 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
Failure to inform 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 The Mortgage Lender your property may be repossessed