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Need professional advice for your consent to let with Darlington Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Darlington Building Society consent to lease
- I have a Darlington Building Society home loan and am looking to acquire consent to let as I would like to move to another property belongings to me. It would appear that might be able to assist. How do your fees work for this service?
- I have had a mortgage for eight years with Darlington Building Society. My other half has bought a property in Wandsworth and I have the opportunity to live with him. Can I rent out my property with consent to let in case I need to move back? Also what legal documents must I provide Darlington Building Society with when completing the consent to let application?
- A friend of mine recently sought CTL from the Woolwich which they refused citing that the mortgage had not been going for six months. I am about to request consent to let from Darlington Building Society. Do they take the same approach?
- My husband and I currently live in Melbourne and letting out our flat in the UK. This is not something we planned but an opportunity presented itself and we took it. The rent achieved on the flat is insufficient to cover the mortgage so we transfer money each month to cover the shortfall. Anyway this morning I got a letter in the post from our lender telling me that because the property is being let out and has been for nearly two years we will have to pay 1.5% interest on top of our current mortgage rate. We could sell the property but this will be far from easy as I am on the other side of the world. Would it be possible to remortgage with Darlington Building Society and get consent to let?
- I have to send the consent to let application by courier and wanted to know if Darlington Building Society have a regular postal address I can use as couriers usually don’t accept deliveries to PO Box numbers.
- I have separated from my wife and we have moved back in with our respective parents and intend to divorce. What do I have to do to get Darlington Building Society to give consent to let our house out to students?
- My wife and I would like to rent out my home. Do I simply mail a letter to Darlington Building Society requesting consent to let out the house?
- Is consent to let required from Darlington Building Society if I am intending to occupy the house myself for half of the year? In addition if I obtain consent to let for a period of time, say up to two years, what happens thereafter.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Darlington Building Society consent to let Advice
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
One thing to remember when arranging a consent to let mortgage with Darlington Building Society is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 restrictions are not strictly observed you may be in breach of the lease. This could trigger 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Darlington Building Society