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Need professional advice for your consent to let with Chesham Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Chesham Building Society Consent to Lease Example Support Desk Enquires
- Are you able to give me some more detail on the consent to let process. I am thinking about taking a Chesham Building Society mortgage on a £200,000 property later this year. The intention is to hold the house as a second home but I need to consider what options are open to me to let the property in the future. If our situation was to change the house would either be sold or let out.
- We have a flat in Hillingdon which we acquired off-plan just over seven years ago. As we've now got a young son we are looking for more space. We've identified a property in Camden that we would like to buy and want to keep the flat as an investment to rent out. The mortgage is with Chesham Building Society and we've found a tenant who will pay rent in excess of the monthly mortgage amount. Our query is, can we keep the repayment mortgage with Chesham Building Society so we effectively paying off our mortgage on the property or must we to switch to a buy-to-let product?
- At the moment I am looking to purchase my first property however, working as a consultant. I want to chose a mortgage company that will permit short term letting with a homeowner mortgage so that I could let the property for no more than six months with long periods of absence without being compelled to a buy to let rate. Can you let me know how lenders would perceive this and in particular the approach taken by Chesham Building Society.
- Me and my husband are in a tricky mortgage scenario currently. We have to lease our house with consent to let and move to a new due to schooling. We now rent a house. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- How simple is it to get a consent to let from Chesham Building Society and what are the fees? If I want to let out my property for a couple of months how simple is it to fluctuate between a standard mortgage and consent to let?
- I am looking for some generic information on consent to let with Chesham Building Society: I am moving abroad. Potentially for many years. That being said I will be on a four month probation period .I'm wanting to know the criteria for consent to let from Chesham Building Society and what fees are involved
- Please can you tell me the circumstances under which Chesham Building Society would decline a request for consent to let?
- I am fixing my homeowner mortgage with Chesham Building Society but due to work related issues I might have to go abroad for a couple of years. Will Chesham Building Society allow and grant consent to let and there be any penalty
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above Chesham Building Society consent to let Questions and Answers
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
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
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 terms are not adhered to you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action 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 Chesham Building Society