Need Help?
Need professional advice for your consent to let with Vida Homeloans? 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 Vida Homeloans consent to let
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My lender has placed me in an impossible situation with a Consent to Let home loan. Having sought consent to let the lender has requested that I produce a signed Assured Shorthold Tenancy before they will grant permission. If I get a signed tenancy agreement would I not be violating the lender’s terms and conditions?
- I have been granted consent to let from Vida Homeloans for a while now but they now want to speak to me and I expect their agenda may be to rid themselves of me. Do you have any suggestions as what I can do next?
- My lawyers have served eviction orders on a tenant who is in arear of rent. The relevant claims have been served. The tenant's defense for refusal to pay is based on the assertion that I lack consent to let my one bedroom apartment from my provider Vida Homeloans
- I am looking for our family to move to give us all more space. We are planning to purchase another house next year. Our house is estimated to be worth £155,00 and we have about £55k remaining on the Vida Homeloans mortgage. We would prefer to keep this house as an investment property and let it out with consent to let. Is it possible to get a mortgage on two properties at the same time or do we need to fully pay off our current mortgage first?
- I’ve already been told to write a letter to Vida Homeloans to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
- I am looking to Vida Homeloans to grant consent to let out my basement flat in Harrow. I am about to commence a PhD opportunity in Maastricht University, Netherlands
- Can I get an interest only mortgage with consent to let when my current Vida Homeloans deal runs out September 13?
- We have a mortgage with Vida Homeloans on our one bedroom ground floor purpose built maisonette in Haringey. We are hoping to buy a new house to move into. How do I switch my current mortgage on to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Vida Homeloans consent to let Advice
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
Failure 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 lease may prohibit 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 your covenants under the lease. This could potentially result in 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 Vida Homeloans