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.
Common questions relating to Yorkshire Building Society consent to lease
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Me and my husband have a Yorkshire Building Society mortgage and are are up to date with payments, both employed etc. Can you tell me how much the fees are and if Yorkshire Building Society usually grant consent to let without changing to a new mortgage product?
- I need to move my children's school by mid-September and move to a different area. I don't have time to find a buyer for my house.The short term option is to lease my property out. Currently I have standard occupiers insurance. Do I need different insurance? Am I required to get consent to let from my mortgage company Yorkshire Building Society
- me and my wife have just sorted our rates for another fixed five years with Yorkshire Building Society. Some weeks later, I went to an interview and basically I accepted the job offer in Enfield. I'm going to rent a one bed flat for the family in Islington as we don't wish to sell the house whist there is a possibility that we come back within a couple of years.... We really have no idea how things will work out. We called Yorkshire Building Society but we would like also your point of view please. Is it possible to have a consent to let in that case as we secured a fixed 5 years rate we would not want to lose this rate.
- I was planning to call Yorkshire Building Society to ask if they have a Consent to Let application they can send me to complete.. However,I thought I would check online. I was wondering if there is anywhere I could download this form online?
- My job is now requiring mebe in different countries every month and as a result I wish to understand the process for getting consent to let with Yorkshire Building Society
- Is it possible to negotiate a consent to let from Yorkshire Building Society if I have an existing mortgage which has been in place for twelve years?
- I am looking at some alternative lifestyle. I have a Yorkshire Building Society mortgage, if I become a Australian resident but wish to rent my UK house, ...what do I need to do to get consent to let. Can this be obtained on the phone ?
- Is consent to let a less costly way of becoming a landlord? Isn't this a loophole for some people to exploit?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Yorkshire Building Society consent to let information
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
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 restrictions are not strictly observed you may be in violation of your covenants under 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 commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Yorkshire Building Society your property may be repossessed