Need Help?
Need professional advice for your consent to let with Adam & Company International? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Adam & Company International Consent to Lease Example Support Desk Enquires
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Just wondered if Adam & Company International invoke a right to put a loading on my interest rate on a non-commercial mortgage where Consent to Let at any time, onto ‘rates in line with their Buy to Let loans'?
- Under what situations will consent to let for a property be given from Adam & Company International? How long do you have to have had the mortgage before consent to let can be obtained from Adam & Company International? By way of background we are moving abroad for a year and a half with my wife’s business and will need to rent our property. I am interested in applying for consent to let in the first instance in order to renting the property out to offset the expense of the Adam & Company International mortgage.
- Resulting from a redundancy my husband and I are looking to move away from Enfield and our house, potentially to a job in Sweden but that means we will want to let the property but don't want the cancellation fees of existing Adam & Company International mortgage which will be exorbitant.What are acceptable reasons for obtaining consent to let on our property?
- I am in the armed forces and intending to acquire a house using a Adam & Company International mortgage. I would like to get consent to let the property to my sister. In the future I would reside in the property with my wife and kids when my military career comes to an end. Is this possible?
- We are trying to discover which lenders are best for allowing consent-to-let without raising rates, and hopefully permitting more than 2 years where required. Is that something you can help with? We are particularly interested in Adam & Company International
- Can you explain the process for gaining consent to let from Adam & Company International? Are there certain requirements for instance you must have owned the property for a year before its granted?
- Is it possible to negotiate a consent to let from Adam & Company International if I have an existing mortgage which has been in place for twelve years?
- My partner and I have four months to left on a two year residential mortgage with Adam & Company International but now let the house out. is it safe to assume they will simply charge a flat fee for consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Adam & Company International 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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is 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 terms are not adhered to you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
If you do not keep up the payments on your mortgage with Adam & Company International your property may be repossessed