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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.
Common questions relating to Adam & Company International consent to lease
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Just wondered if Adam & Company International choose to operate a right to change the rates on a regular mortgage where Consent to Let at any time, onto ‘rates akin to their BTL loans'?
- I have had consent to let from Adam & Company International for some time now and they now want to speak with me and I suspect their motivation is to get rid of me. Do you have any suggestions as what I can do next?
- I would like to move and let out my one bedroom apartment in Ealing. Having bought it in winter 2007 and presently on a 85% ltv there is little equity in it. My mortgage is with Adam & Company International. Do you know where Adam & Company International stand on consent to let?
- We acquired a property in 2008 on shared ownership basis, I own 50% through bank loan and rent the remaining percentage. Three years ago I purchased a new property. I let out my first house and moved to my new home. I got consent to let from my mortgage company and I thought I had consent to let from the housing association. Yesterday I had a letter from the housing association saying they had nothing on record to say I had their permission to sublet. What are my options?
- I am looking to Adam & Company International to grant consent to let out my flat in Greenwich. I am travelling for a year
- So this is the scenario: I am moving to Holland for work. This might be for many years. However I will be on a four month probation period .I'm wanting to know how to go about getting consent to let from Adam & Company International and any costs involved
- In the event that I was successful in obtaining consent to let from Adam & Company International, can I sell during the consent period? Is it possible that I would incur any charges?
- Last month I purchased a property with 10% deposit for personal reasons. A mortgage was taken with Adam & Company International. But my circumstances have now changed. I am being transferred overseas. Am I able to get consent to let from Adam & Company International and put the house up for rent?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Adam & Company International consent to let information
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
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 notify them could 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could potentially result in 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 record their consent in writing.
If you do not keep up the payments on your mortgage with Adam & Company International your property may be repossessed