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Need professional advice for your consent to let with Clydesdale Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Clydesdale Bank consent to lease
- My husband and I have just sorted our rates for another fixed period with Clydesdale Bank. Subsequently, I went to an interview and basically I accepted the job offer in Hillingdon. I'm going to rent a small flat for the family in Merton as we don't wish to sell the house whist there is a possibility that we come back within a couple of years.... We really have no idea how things will go. We have contacted Clydesdale Bank but we would like also your take on the situation. How is it to get consent to let in that case as we secured a fixed 5 years rate we really don't want to lose this rate.
- A friend of mine recently asked for CTL from the Woolwich which they turned down citing that the mortgage had not been in place for even half a year. I am about to ask for consent to let from Clydesdale Bank. Do they adopt the same rule?
- My gf and I might have to let out her apartment, and I have a query concerning getting permission to do so. I know I need to notify Clydesdale Bank and get a consent to let or change to a buy to let product. Given that the property is leasehold do we need consent to let from the management company?
- Me and my girlfriend are soon to buy a house together. Idea is for me to get consent to let my flat from Clydesdale Bank. Thinking further ahead - when my two year fixed comes to an end - how would it work if I wanted to remortgage my flat?
- My wife and I have a letter to Clydesdale Bank requesting consent to let signed and ready, but I'm not sure what address I should post this to. Can you please help me with the address?
- I was just looking into consent to let as it's something potentially I would need from Clydesdale Bank within the next 12 months. Our marital situation has changed, and I wish to rent my place out
- Will Clydesdale Bank choose to exercise a right to convert the rates on a domestic mortgage where Consent to Let at any time, onto ‘rates equivalent to their BTL range'? Is it possible to remortgage on a consent to let with Clydesdale Bank?
- I am considering moving in with my fiance at his home and would like to rent out my property that I purchased twelve months ago, I'm just not sure of the process as my property is my first home. What do I need to do to gain consent to let from Clydesdale Bank If I obtain consent will my mortgage payments rise?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Clydesdale 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
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 to have a license to do so from the freeholder. If such conditions are not complied with 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 taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Clydesdale Bank your property may be repossessed