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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.
Common questions relating to Accord Mortgages consent to lease
- I am looking to get a consent to let from Accord Mortgages as my personal situation has changed. My stepdaughter started college and I concluded that we would move nearby and chose to buy a property rather than rent for 3 years. After having bought the house there has been serious deterioration in my relationship with my my step daughter and she refuses to move in. Since the whole idea was for her and the house location is not particularly ideal for my work I would like to move out and let the property
- My boyfriend and I (joint owner) are considering remortgaging with Accord Mortgages. I was conducting some research concerning consent to let from Accord Mortgages to understand the rules around potentially leasing our current apartment out (probably in a year or 2) if we moved away. The apartment in question was a first-time purchase for us about three years ago. Currently we are living there.
- I applied for consent but I did not get it as I did a remortgage in July but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some additional criteria that will not be ok. On the other hand I can remortgage with Accord Mortgages but will they give me consent straight away?
- My OH and I might have to rent his property out. I am aware that I require consent to let from Accord Mortgages. We plan to join a landlord association should we decide to let the flat, but do you have any thoughts on which are the best? We've come across the RLA and National Landlords Association.
- I want to take in lodgers for my maisonette in Islington which I live in. My mortgage is with Accord Mortgages. Will they grant consent to let?
- I have a mortgage with Accord Mortgages taken four months ago where I moved from another mortgage provider. Am I now able to rent my property with consent to let from Accord Mortgages as I am looking to purchase a further property.
- Me and my husband may want to lease our home temporarily due to a new job. This will be for a limited period but perhaps for twoyears. Should I tell Accord Mortgages or am I best advised to keep schtum?
- Are you able to advise me how much the fees are and if Accord Mortgages usually give consent to let without switching to a commercial rate?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Accord Mortgages 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
One thing to remember when arranging a consent to let mortgage with Accord 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 standard 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 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 advise 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.
If you do not keep up the payments on your mortgage with Accord Mortgages your property may be repossessed