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Need professional advice for your consent to let with Landbay Partners Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Landbay Partners consent to lease
- Hello, I have a mortgage on an apartment with Landbay Partners and I am thinking about letting my property out. Can I do this without transferring to a BTL or receiving consent to let from Landbay Partners?
- As things stand we have a 5 year fixed rate mortgage with Landbay Partners that we're about 18 months into. Our situation has now changed and we wish to let out our flat for a year and whilst we relocate to Tower Hamlets. What can we do to mitigate the risk of Landbay Partners refusing to grant consent to let.
- My property has had a mortgage against it with Landbay Partners for the last ten years. I am now married and live in my husband’s home. My property is currently empty and we either need to sell or let it out. Chances are that this could be a long term proposition as the prospect of moving back is unlikely. What should I tell Landbay Partners in order to get consent to let?
- Me and my husband are in a complex mortgage situation currently. We have to rent our home with consent to let and move to a different location due to schooling. We now rent a property. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- I have a Landbay Partners mortgage currently and may want to let it out for a short period of time with consent from Landbay Partners for (1 year). Just wanted to know is it something that is obtainable relatively quickly?
- I will have to move to NYC for a couple of years, I have a house with a Landbay Partners mortgage. Do I need to ask consent to let? Will they be obliging?
- I would like consent to let on my Enfield flat from Landbay Partners. I will be going abroad for a year and so want to know if I am able to rent out my flat
- I am looking for some generic information on consent to let. I currently have a mortgage in place with Landbay Partners. I have been given licence to sublet my apartment from the freeholder of the block and they asked for a copy of the consent to from Landbay Partners.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Landbay Partners consent to let Questions and Answers
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
If 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 inform 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
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 terms are not adhered to you may be in breach of 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 commencing legal proceedings 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 Landbay Partners