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.
Vida Homeloans consent to let: Q and A’s
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Colin (my husband) and I may need to let our Westminster home for a while due to a new job. This will be temporary but possibly for as long as five years. Do I inform Vida Homeloans or should I not rock the boat?
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Are any options available to me if my request to obtain consent to lease is rejected by Vida Homeloans?
- I would like the consent to let forms for Vida Homeloans please I couldn't find it on the net.
- I have an annex that my mum is planning to move out from. As my property is large I was thinking to move into the annex and lease the rest out. This is also due to change of circumstances. Would I require consent to let from Vida Homeloans?
- I have had my mortgage with Vida Homeloans for the previous twenty months and I am interested in finding out some more information about the possibility of getting 'consent to let’.
- Just wanted to know what needs to be provided to Vida Homeloans in order to get consent to let? I just finished a three year fixed mortgage and potentially moving to another house with my husband.
- Is consent to let required from Vida Homeloans if I am intending to occupy the house myself for three months of the year? In addition if I obtain consent to let for a limited time, say up to two years, what happens thereafter.
- I am interested in consent to let for my home mortgaged with Vida Homeloans. How do I proceed? Do I have to write to Vida Homeloans and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Vida Homeloans consent to let Info
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
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 conditions are not complied with you may be in violation 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 taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Vida Homeloans your property may be repossessed