Need Help?
Need professional advice for your consent to let with ASTRA mortgages? 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 ASTRA mortgages consent to lease
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For the last few months I have been letting out my flat in Westminster. I didn't apply for consent to let. I moved to Amersham for a job opportunity and couldn't do a commute but was worried that ASTRA mortgages would charge me silly money so I decided to take the risk. I'm hoping to do the right thing now... basically continue leasing it but with consent. Can you offer any advice as to how I go about doing this?
- For 8 I have a I have had a mortgage with ASTRA mortgages. My other half has purchased a house in Bromley 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 ASTRA mortgages with when completing the consent to let application?
- Due to meet with my financial adviser on Friday. I will apply for Consent to Let from my current lender ASTRA mortgages. My new property in Croydon will be 75% loan to value. Heard whispers that some lenders still dont accept consent to let customers and I may encounter difficulties regarding my new mortgage. Am I likely to encounter this problem?
- I have a three bed flat in Haringey which I purchased in 2007 and which I have since remortgaged with ASTRA mortgages on a fixed rate which ends next September. If I want to rent out the property whilst I go travelling what do I need to do and is there a time limit? Are there any other financial repercussions when seeking consent to let?
- Iwant to let the family home and buy other. Can ASTRA mortgages refuse to grant me consent to let?
- I need to send the consent to let application by courier and wanted to know if ASTRA mortgages have a regular mailing address I can use as couriers ordinarily will not accept deliveries to PO Box numbers.
- I hope to purchase a new house but can't afford to sell the existing property with a ASTRA mortgages mortgage. Do you know acceptable terms for ASTRA mortgages to give consent to let? Is getting married and having kids a sufficient reason to make the request?
- Please could you confirm what the process would be if we move to a new property and need to get consent to let for our existing mortgage with ASTRA mortgages
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above ASTRA mortgages consent to let Questions and Answers
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
Where 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 inform them may 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
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 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
Failure to advise 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with ASTRA mortgages