Need Help?
Need professional advice for your consent to let with Birmingham Bank? 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 Birmingham Bank consent to let
- We are in possession of a mortgage offer from Birmingham Bank, but we hit a brick wall. My husband is the deputy head in a boarding school, and as such accommodation is a benefit of the job. We wanted to purchase a two bedroom second floor purpose built flat to get on the ladder, and rent it out while we're based at the school. I had thought Birmingham Bank would be willing to give consent to let from the outset of the mortgage. It transpires that we may not be granted consent to let. Can you give me any suggestions?
- Please explain "consent to let" to me? I live in a studio apartment and its in good condition. It has been on with agents for two months and I have had very few viewings. This is because my neighbour is noisey. I was obliged to mention it on the disclosure form. Mortgage is with Birmingham Bank on a fixed rate. Someone mentioned I should seek consent to let by Birmingham Bank and lease the flat out.
- I am a landlord having served eviction orders on a tenant who had not paid his rent in 3 months. The relevant proceedings have been served. The tenant's defense for refusal to pay is premised on the assertion that I I failed to obtain consent to let my one bedroom apartment from my provider Birmingham Bank
- I am in the Royal Air Force and intending to purchase a home using a Birmingham Bank mortgage. I would like to be given consent to let the house to my mother and father in law. In years to come I plan to reside in the property with my wife and kids when my military career comes to an end. Is this feasible?
- My two year fixed rate with Birmingham Bank is about to come to an end soon I will switch on to the standard variable rate. Can you tell me if consent to let by Birmingham Bank is likely, if there are cost, and if there are time limits?
- I am currently in the process of applying for a mortgage through Birmingham Bank - I foresee that in the within months I may decide to rent the property out - how would I change the homeowner mortgage to a BTL mortgage?
- Last month I bought a house with 10% deposit for personal uses. A homeloan was taken with Birmingham Bank. But my circumstances have now changed. I am being transferred overseas. Am I able to get consent to let from Birmingham Bank and put the property up for rent?
- Are you aware if there is usually a maximum loan to value amount before Birmingham Bank will give consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Birmingham Bank consent to let Info
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 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 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Birmingham Bank