Need Help?
Need professional advice for your consent to let with Aldermore Bank PLC? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Aldermore Bank consent to let
-
Me and my husband have a Aldermore Bank home loan and are are not in arrears, both employed etc. Can you tell me how much the fees are and if Aldermore Bank are likely to give us consent to let without porting the loan to a commercial rate?
- I have a Aldermore Bank mortgage and have been letting out my flat without consent to let, making me in breach of my mortgage Ts and C’s. I fear that they have sussed that I am not living there. What negotiating options are available if I don't sell it in time before they are on notice that I am in contravention of my conditions?
- I am a letting agent. If a landlord chooses to lease out their house without consent to let from Aldermore Bank - what liability do I have, if any? My guess is that the landlord isn't breaking the law, however, they would be breaching their contract with the Aldermore Bank, as Aldermore Bank most probably need to be notified of any change in circumstances. If I turn a blind eye could I be accruing trouble?
- What is the maximum period of time allowable to Aldermore Bank that I would be able to let my property without being required to transfer the mortgage or sell my house? In short, my partner would like me to move in with him and I really don't want to sell my house. I would like the fallback of knowing I still have my own home.
- I am trying to find out which lenders are best for giving consent-to-let without raising rates, and hopefully allowing in excess of 2 years if required. Is that something you can help with? We are particularly interested in Aldermore Bank
- Me and my sister and I have a mortgage with Aldermore Bank on our maisonette in Enfield. We are hoping to buy a new house to move into. How do I move our current mortgage on to consent to let?
- I am a Aldermore Bank borrower. I would like to apply for consent to let my home. I have been waiting for a response from Aldermore Bank. Are you able to please check and help?
- Do you have the address to which a Consent to Let request to be sent for Aldermore Bank? Sorry about bothering you with this query.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Aldermore Bank 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 result in 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 lease may prohibit 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Aldermore Bank