Need Help?
Need professional advice for your consent to let with Landmark Mortgages Limited? 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 Landmark Mortgages consent to lease
-
We've been renting my wife's old house out with "consent to let" from Landmark Mortgages on a standard mortgage for the past three years. Landmark Mortgages have just written revoking consent to let if we do not transfer to one of their "buy to let" products.
- I am interested to know how easy is it to seek consent to let from Landmark Mortgages. I am considering fixed deals and intend to live there but would like to understand what options are open to me for example - if a job elsewhere was attractive or for a year overseas.. Please let me know how challenging it is in your experience with Landmark Mortgages?
- What is the process for obtaining consent to let from Landmark Mortgages? What evidence do they require? is there a fee to pay? Is consent generally limited in time and if so, for how long? Do I need to renew it annually? What if I obtain a consent but decide to sell the property rather than let out the property?
- I refinanced with Landmark Mortgages recently, borrowing extra with the intention to extend the property. That plan has proved not to be possible and I now intend to purchase a further property for residential purposes and lease the existing property out with consent to let. Is that likely to result in me stitching myself up?
- We are about to buy a property and plan to live in it once we have renovated but we may need to let the property out but not clear on what the criteria is for consent to let from Landmark Mortgages? We don't need a buy to let mortgage because we are not certain if we will need to let it out at all
- Can I remortgage with Landmark Mortgages with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
- Just wanted to know what needs to be provided to Landmark Mortgages in order to get consent to let? I just finished a three year fixed mortgage and possibly moving to another flat with my girlfriend.
- My mortgage has been with Landmark Mortgages for six years. I would like to apply for consent to let my flat. I have been waiting for a response from Landmark Mortgages. Are you able to please check and help?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Landmark 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
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 restrictions are not strictly observed you may be in violation of the lease. This could potentially result in 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Landmark Mortgages