Need Help?
Need professional advice for your consent to let with Atom 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 Atom Bank consent to let
- I wish to let my current residence and want to purchase a larger house for the family. I have a mortgage with Atom Bank. On the basis I get the consent to let as I understand banks are more than likely to push me towards getting BTL mortgage when the fixed term comes to an end. Could I refinance after a couple of years with another lender? What connotations does that have aside from the higher rates - will I need a greater equity portion in the property too ie lower ltv?
- I have just been presented with a once in a lifetime career opportunity for 6 months in Denmark. I do have sufficient cash reserves to meet the monthly Atom Bank mortgage yet the buildings insurance requires continuous residency in order to remain valid. Last winter the roof had some leaks that were repaired. Should there be any problems during the winter months I would struggle to cover the remedial works. How likely is it that I will get consent to let via Atom Bank for a limited period?
- Hi, I have consent to let my house with Atom Bank and am about to give my tenant 2 months notice as I wish to find a buyer. I am worried about the property being vacant when the tenant leaves and finding a buyer. Not once have I defaulted on the account, is it likely that I would be able to take payment holidays until sold?
- I am in the Royal Navy and am looking to acquire a home with a Atom Bank mortgage. I would like to obtain consent to let this house to my parents. In the future I would live in the property with my family when I leave the Royal Navy. Will I need to apply to my Commanding Officer to request permission to rent it out?
- I am looking to Atom Bank to grant consent to let out my flat in Lewisham. I am moving to India for Eight months for work.
- I have a consent to let letter that I have procured from my management company. I presume I need to send this with a letter to Atom Bank with a view to gaining consent to let from them. What address shall I send it to?
- I have fixed rate mortgage with Atom Bank. I am going have to rent out my place due to necessity. Were I to apply for consent to let, will I have to pay a lot more interest?
- We are considering a remortgage offer with Atom Bank and it's a strong possibility that I will require consent to let at some point in the fixed period. Are there any charges I should consider?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Atom Bank consent to let Info
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
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Atom Bank your property may be repossessed