Need Help?
Need professional advice for your consent to let with Yorkshire Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Yorkshire Building Society consent to let
- Hi, I have a mortgage on a flat with Yorkshire Building Society and I am contemplating the idea of letting my property out. Can I do this without switching to a buy to let or obtaining consent to let from Yorkshire Building Society?
- I am buying a one bedroom apartment in Newham. I will only want to be there for a year, and subsequently move into a larger property. As opposed to disposing of the prior flat I'd like to let it out so that it form part of my investment portfolio. Do you know if Yorkshire Building Society would give consent to let after half a year?
- I am a landlord having served eviction orders on a tenant who had not paid rent. A Section 21 and section 8 have been issued. The tenant's defense for non payment is built on the assertion that I do not have consent to let my garden flat from my lender Yorkshire Building Society
- My husband called Yorkshire Building Society on last week concerning consent to let. We are awaiting a call back. We have put an offer in on a garden flat that has been provisionally accepted so would like to know how likely it is that we will get consent to let by Yorkshire Building Society?
- Just wondering if it's possible if you own one property with consent to let from Yorkshire Building Society, to purchase a second with a residential mortgage to live in. Then once the consent runs out on the first property, to switch to buy to let or sell it?
- I am looking for some generic information on consent to let. I already have a mortgage in place with Yorkshire Building Society. I have had approval to sublet my GFF from the freeholder of the block and they asked if I have consent to from Yorkshire Building Society.
- Do you have the address to which a Consent to Let request to be sent for Yorkshire Building Society? Sorry about bothering you with this query.
- We have an annexe in our garden. Do we need consent to let this from Yorkshire Building Society? If so, what is the process if I need to transfer my mortgage to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Yorkshire Building Society consent to let Info
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
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 notify them may trigger your insurance becoming null and void. 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 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 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 taking legal action against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Yorkshire Building Society