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.
Top Five Questions relating to Atom Bank consent to lease
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My wife and I have a Atom Bank mortgage and are are up to date with payments, both employed etc. Can you tell me how much it will cost and if Atom Bank are likely to give us consent to let without porting the loan to a different deal?
- I have a mortgage with Atom Bank however my husband and I will be emigrating to New Zealand in September. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- I'm twelve months into a two year fixed mortgage with Atom Bank. The LTV is only 40%. I've found a really good deal on a garden flat in Ealing which I don't want to miss. It appears that the only way I can get this other property is to release most of the remaining equity. I'm thinking of letting the existing property which would adequately cover the mortgage with Atom Bank. Is it possible to obtain consent to let from Atom Bank and ask for additional borrowing after it's rented?
- I have been in the Royal Navy for six years and planning to purchase a house with a Atom Bank mortgage. I would like to get consent to let the house to my mother and father in law. In the future I would live in the property with my family when my military career comes to an end. Will I need to apply to my Commanding Officer to request permission to rent it out?
- Do you know if Atom Bank would have archive records as to whether consent to let was granted for a specific property?
- I want to take in in a lodger for my 2 bed flat in Lewisham which I live in. My mortgage is with Atom Bank. How do I go about getting a consent to let?
- I am trying to find out if it is possible to get a consent to let home loan with Atom Bank rather than a buy to let mortgage
- Do you have the address to which a Consent to Let request to be sent for Atom Bank? Sorry about bothering you with this query.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Atom 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
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 restrictions are not strictly observed you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
If you do not keep up the payments on your mortgage with Atom Bank your property may be repossessed