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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.
Zephyr Mortgages Consent to Lease Example Support Desk Enquires
- Following retirement in June I purchased a “retirement home” for my wife and myself to live in. We would like to let our current property to our nephew and I have therefore contacted Zephyr Mortgages for consent to let. I was just seeking a general view on whether Zephyr Mortgages currently allows it?
- My husband and I bought a apartment in Sunderland and will be moving to Cornwall at the end of March. I have a letting agency and tenant lined up. I was proposing to keep quiet as I'm afraid Zephyr Mortgages will say I have to change my mortgage rate over to a buy to let which is not financially viable. I would like to secured a consent to let via Zephyr Mortgages but am afraid if I open Pandora's box it would lead to a whole host of issues
- We are planning to let my flat for a year from 26th September 2015. Is there conventional wording for a letter I can use to write to Zephyr Mortgages to apply for consent to let.
- I have been in the Royal Air Force for five years and planning to acquire a home using a Zephyr Mortgages mortgage. I would like to be given consent to let this property to my sister. In the future I plan to reside in the property with my wife and kids when my military career comes to an end. Will I need to apply to my superior officer to request permission to rent it out?
- Will Zephyr Mortgages want to know why I am seeking consent to let? Should I disclose my possible relocation overseas?
- Morning? I am just curious if Zephyr Mortgages offer consent to let as an option should I decided to rent out my property under a homeowner mortgage. Is there a specific rule for right to buy property and consent to let?
- I am looking at new mortgages and also exploring the possibility of renting the property in the years to come - Is there a charge with Zephyr Mortgages to procure consent to let and what are the criteria?
- I own a residential home. I would like remortgage with Zephyr Mortgages and either change to buy to let or consent to let. I'm still within the Early Redemption Charge period so not sure if it would trigger the penalty payment?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Zephyr Mortgages 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
One thing to remember when arranging a consent to let mortgage with Zephyr Mortgages is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 provisions in the lease may prevent 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 breach 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 obtain their consent in writing.
If you do not keep up the payments on your mortgage with Zephyr Mortgages your property may be repossessed