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Need professional advice for your consent to let with Ahli United Bank (UK) plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Ahli United Bank consent to lease
- For nine I have a I have had a mortgage with Ahli United Bank. My other half has recently acquired a house in Waltham Forest and he has asked me to move in with him. Can I rent out my apartment with consent to let in case I need to move back? Also what legal paperwork must I provide Ahli United Bank with when completing the consent to let application?
- I am seeking some feedback as to whether consent to let from Ahli United Bank is the right approach. I purchased my house six months ago by porting an existing Ahli United Bank mortgage product. My fixed term ran out five months ago I'm currently considering moving in with a new partner. I would prefer not to sell my house yet because I have no idea as to whether the new move will work out. I just wanted an idea of whether a consent to let from Ahli United Bank would be possible?
- My fixed rate mortgage with Ahli United Bank ends 21st October. I am required to relocate to Brighton with work in April. I wish to let out the house temporarily. Can I get a consent to let the property?
- I am looking for our family to move to give us all more space. We are thinking about buying another house in a few years time. Our house was valued at £185k and we have about £65k left to pay on the Ahli United Bank mortgage. We would prefer to keep this house as an investment property and rent it out with consent to let. Is it possible to get a mortgage on two properties at the same time or do we need to fully pay off our current mortgage first?
- I am one year into a five year domestic mortgage with Ahli United Bank. Just curious if it's ok to let out the flat on my existing mortgage. Will Ahli United Bank give consent to let?
- How easy is it to get a consent to let from Ahli United Bank and what are the fees? If I want to let out my property for a couple of months how simple is it to chop and change between a standard mortgage and consent to let?
- I have a letter to Ahli United Bank requesting consent to let signed and ready, but I'm not sure what address I should post this to. Can you please help me with the address?
- I was just wondering if there are any charges in getting consent to let on a freehold property when I have a mortgage with Ahli United Bank
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Ahli United Bank 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 Ahli United Bank 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 regular 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
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 conditions are not complied with you may be in violation of 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 taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Ahli United Bank your property may be repossessed