Need Help?
Need professional advice for your consent to let with Aviva Equity Release UK Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to Aviva Equity Release consent to lease
- I have had a mortgage for eight years with Aviva Equity Release. My partner has recently acquired a property in Southwark and I have the opportunity to move in with him. Is it possible for me to rent out my apartment with consent to let in case I need to move back? Also what legal paperwork must I provide Aviva Equity Release with when completing the consent to let form?
- My plan is to let my two bedroom first floor purpose built maisonette out from the end of June next year as I will be going for a few months. I have a domestic mortgage with Aviva Equity Release. I will not be letting for more than four months. Most likely it will be four months. It has been suggested that I get permission from my freeholder first? Please can you suggest what I should be doing in what order?
- I applied for consent but was refused as I did a remortgage in September but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. On the other hand I can remortgage with Aviva Equity Release but will they give me consent straight away?
- I have a flat in Havering with a Aviva Equity Release mortgage but I no longer live there. My brother moved in but is there rent free. At the moment I live in rented premises and am looking to purchase a house. I have found a perfect property at reasonable price. I have sufficient for a deposit to put down on the house I am interested in but would be hard pushed to pay enough off the old property to switch it to a BTL loan at the same time. Can I switch the current Aviva Equity Release mortgage for my old apartment into a consent to let and use my reserves to pay a larger deposit for the homeowner mortgage on the property that I want to buy?
- I am deliberating on renting my house will Aviva Equity Release invoice me for a consent to let letter?
- I currently have a mortgage with Aviva Equity Release that I would like to transfer to a consent to let as we have identified another property we are looking to purchase. How do I apply for consent to let from Aviva Equity Release and what are the steps within the process?
- My wife and I want to move home and have found a house we wish to purchase so are considering renting out with consent to let from Aviva Equity Release for our existing property to enable us to place an offer and not lose the potential new property.
- I was just wondering how to get consent to let from Aviva Equity Release...do I call them or apply formally in writing to them?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Aviva Equity Release consent to let Advice
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 lease may prohibit 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 your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Aviva Equity Release your property may be repossessed