Need Help?
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.
Frequently asked questions relating to Darlington Building Society consent to lease
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Is consent to lease required from Darlington Building Society or can I lease out my property without telling Darlington Building Society and having to transfer to a B2L mortgage?
- I've got a current homeloan with Darlington Building Society coming up to 18 months and the fixed rate is about to come to an end. We are looking at taking equity from our current residence to allow us to acquire a bigger home and then let out the existing three bed flat. We were originally informed that we will get a new residential mortgage with a consent to let - what does this mean?
- I refinanced with Darlington Building Society recently, borrowing extra with the intention of doing a loft conversion. That plan has proved not to be possible and I now intend to purchase a second property as my primary residence and lease the old property out with consent to let. Is that likely to land me in a lot of bother?
- My twin and his girlfriend currently lodge with me at my two bedroom maisonette. After Christmas I would like to move out of the flat and in with my OH. How likely is it that I will be able to get consent to let from Darlington Building Society after only having the mortgage for 6 months?
- Can you help with a question...if consent to let is granted by Darlington Building Society would it usually stipulate a time limit, such as 6 or 12 months?
- Will I need consent to let from Darlington Building Society if I am planning to occupy the apartment myself for three months of the year? Also if I gain consent to let for a limited time, say up to twelve months, what happens thereafter.
- Do you have the address to which a Consent to Let request to be sent for Darlington Building Society? Sorry about bothering you with this query.
- I am currently refinancing and looking into the flexibility of certain mortgage providers when it comes to consent to let. Darlington Building Society is one of the lenders I am considering. How accommodating are they when it comes to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Darlington 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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them may result in your insurance becoming invalid. 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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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 Darlington Building Society your property may be repossessed