Need Help?
Need professional advice for your consent to let with Beverley Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Beverley Building Society consent to let
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Can one refinance on a consent to lease with Beverley Building Society?
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My lender has placed me in a pickle with a Consent to Let home loan. In response to requesting consent to let my lender has asked me to provide them with a signed tenancy agreement before they will grant consent. Is is not the case that if I adhered to their request that I would be violating the terms of my existing mortgage?
- My partner and I are looking to let out our one bedroom apartment in Hounslow in August. I would like some suggestions on what I need to do. I've just moved our Beverley Building Society mortgage to a fixed term and just need to understand the process and what information I'll need to get consent to let.
- I have an annex that my father has vacated. As my property is large I was considering moving into the annex and let the remainder out. This is also due to change of circumstances. Would I require consent to let from Beverley Building Society?
- My lender refuse to grant consent to let without a move in date confirmed with a tenant. How can I confirm this whilst lacking consent to let? I can't be certain but I think my friend had a similar issue with Beverley Building Society.
- I’ve already been told to write a letter to Beverley Building Society to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
- Due to work opportunities I will be moving to Scotland and would like to rent the flat temporarily, please let me know what steps I need to take in order to achieve consent to let from Beverley Building Society?
- I want to take in in a lodger for my one bedroom second floor purpose built flat in Redbridge which I live in. My mortgage is with Beverley Building Society. How do I go about getting a consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Beverley Building Society 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 notify them could result in your insurance becoming invalid. 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 to have a license to do so from 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 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 Beverley Building Society