Need Help?
Need professional advice for your consent to let with Bluestone Mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: Bluestone Mortgages consent to let
- I have been granted consent to let from Bluestone Mortgages for a while now and they now wish to speak to me and I expect their plan will be to get rid of me. Do you have any suggestions as what I can do next?
- What are the chances of Bluestone Mortgages in issuing me with Consent To Let on a two bedroom second floor purpose built maisonette? Agents have had it on the market for three weeks. I need to sell but I'm mindful that given the lack of interest I will need to let out the property in order to cover the mortgage to Bluestone Mortgages (I no longer reside there). My preference is to come clean with Bluestone Mortgages than do it on the sly but I am worried as to how helpful they would be.
- I am aware of the GGT consequences of converting a Bluestone Mortgages mortgage to consent to let, but what about the ongoing rental revenue vs outgoings? Say I have converted my former owned garden flat into CTL and moved out and pay rent elsewhere. Is there any way to expense the rent I am paying from the rental revenue?
- Where a landlord opts to lease out their property in the absence of consent to let via Bluestone Mortgages - what, if any implication might there be for an agent acting for the landlord?
- I am seeking from Bluestone Mortgages consent to let out my flat in Bexley. I am going to move in with my mother as I am off work due to illness.
- My OH is considering purchasing a new property in Lambeth and is getting a good deal as it requires renovating. We want to rent our current property for two years and come back to live. Will I be given consent to let by Bluestone Mortgages?
- I'm intending to switch mortgage provider to Bluestone Mortgages for a fixed rate but the likelihood is that I will need to rent the property out for just under one year. Do Bluestone Mortgages consent to let on fixed rate mortgages and if so, what are the costs.
- We have a mortgage with Bluestone Mortgages at the moment and just enquiring where I can I get a consent to application form from
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Bluestone Mortgages 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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 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
Neglecting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Bluestone Mortgages