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Need professional advice for your consent to let with Accord Mortgages Ltd? 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 Accord Mortgages consent to lease
- A friend of mine recently sought CTL from the Woolwich which they declined because the mortgage had not been in place for even half a year. I am about to seek consent to let from Accord Mortgages. Will they take the same approach?
- My partner and I may have to let his studio flat out. I am aware that I need a consent to let from Accord Mortgages. We plan on joining a landlord association if we go ahead and let the property, but do you have any opinions on which are the best? We've come across the RLA and National Landlords Association.
- Me and my husband are in a tricky mortgage situation in the last couple of month. We have to rent our flat with consent to let and move to a different location to be nearer to my parents. 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 recently got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our studio flat in Bexley we currently live in to rent out. Mortgage on the flat is with Accord Mortgages. I don't want to put myself in a situation with two residential properties and then be refused consent to let.
- Due to career opportunities I will be moving to Belfast and would like to rent the flat temporarily, are you able to confirm what action I need to take in order to get consent to let from Accord Mortgages?
- My OH and I are deliberating a remortgage and also exploring the possibility of renting the property in the future - Is there a cost with Accord Mortgages to procure consent to let and what are the criteria?
- Just wanted to know what needs to be provided to Accord Mortgages in order to get consent to let? I just finished a three year fixed mortgage and potentially moving to another property with my boyfriend.
- I am hoping to fix my homeowner mortgage with Accord Mortgages but as a result of my job I may have to live abroad for a couple of years. Will Accord Mortgages allow and give consent to let and there be any penalty
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Accord Mortgages consent to let information
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 result in your insurance becoming invalid. 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 obtain the consent of the freeholder. If such terms are not adhered to you may be in violation 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 Accord Mortgages