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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 let: Q and A’s
- I bought a house three years ago in Liverpool when I worked locally. I got a promotion which requires working in Luton. I commute down on Sunday evening and live with a family member mid week. I am now considering relocating with the family to avoid the commute. I am looking into the possibility of renting out my existing home. My mortgage is with Chesham Building Society, would I have to move onto a new mortgage rate or ought I try to get consent to let?
- I am interested to know how challenging is it to seek consent to let with Chesham Building Society. I am considering fixed deals and intend to live there but would like to know what options are open to me if work has opportunities elsewhere for instance within 2 or 3 yrs Please let me know how challenging it is in your experience with Chesham Building Society?
- Resulting from a redundancy we are looking to move away from Croydon and our flat, potentially to a job in Sweden but that means we will want to let the property but don't want the cancellation fees of existing Chesham Building Society mortgage which will be expensive.On what basis is 'consent to let' granted by Chesham Building Society?
- Me and my girlfriend are soon to buy a house together. Plan is for me to get consent to let my flat from Chesham Building Society. Thinking a little down the line however - when my 2 year fixed comes to an end - how would it work if I wanted to remortgage my flat?
- I am deliberating on renting my house will Chesham Building Society invoice me for a consent to let letter?
- I am just finding out some information at this stage. My boyfriend has asked me to move in with him and i'm not keen to sell my place just yet. So now I want to know what I would need to do to get consent to let from Chesham Building Society
- My husband and I are considering a remortgage and also exploring the possibility of renting the property in the future - Is there a cost with Chesham Building Society to get consent to let and what are the requirements?
- Prospective tenants are about to move into my property and I have mortgage offer from Chesham Building Society on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Chesham Building Society consent to let Info
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
Omitting 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 lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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.
If you do not keep up the payments on your mortgage with Chesham Building Society your property may be repossessed