Need Help?
Need professional advice for your consent to let with Zephyr Mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to Zephyr Mortgages consent to lease
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Do I need consent to let from Zephyr Mortgages or can I rent out my garden flat without telling Zephyr Mortgages and having to switch to a buy-to-let mortgage?
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I have a homeowner mortgage over my residence in loc and intend to move to country for two years. During this time frame I want to let out my flat. My bank is withholding consent to let. It’s hardly ideal to move to a buy to let mortgage as it’s only for a limited time-frame that I am going away for.
- Under what circumstances will consent to let for a property be granted by Zephyr Mortgages? How long do you have to have had owned the property before consent to let can be granted by Zephyr Mortgages? By way of background:Our home is a very small 1 bedroom flat which is too small for us, my husband is also unwell and we are far away from family who could offer us a bit of relief, in the form of babysitting. I am interested in seeking consent to let initially to be able to renting the property out to cover the costs of the Zephyr Mortgages mortgage.
- I bought my maisonette in Newham one year ago and have a three year fixed rate mortgage with Zephyr Mortgages. Looking to move in with my other half next month and wish to let out my property. Just want to know the process.
- I am looking at moving abroad for work and would like consent to let from Zephyr Mortgages whilst I am away. Is the way forward to complete the consent to let form and send it off in the post to Zephyr Mortgages? Letting the property isn't to make money but to keep the property in case things don't turn out as well as we hope
- I am looking for consent to let for my property as I am moving out for 6 months currently fixed Zephyr Mortgages mortgage with two years which is due on June next year.
- Would a prior extension to a mortgage term with Zephyr Mortgages be held against us when we sought consent to let from Zephyr Mortgages.
- I am looking at some alternative lifestyle. I have a Zephyr Mortgages mortgage, if I become a US resident but wish to rent my UK house, do I need to get consent to let from Zephyr Mortgages to do this ?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Zephyr Mortgages consent to let Advice
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
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
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 breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Zephyr Mortgages your property may be repossessed