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Need professional advice for your consent to let with DB UK Bank Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: DB UK Bank consent to let
- I have recently sought consent to let from DB UK Bank, but wondered if they pose any requirements on the level of rental to be received?
- In a situation where a property owner chooses to rent out their property without consent to let from DB UK Bank - what, if any implication could there be for an agent acting on their behalf?
- My partner had a conversation with someone at DB UK Bank on Monday regarding consent to let. He is expecting a call back. We have placed an offer in on a one bedroom apartment that has been provisionally accepted so we need to know how likely it is that we will obtain consent to let by DB UK Bank?
- I bought my maisonette in Croydon ten months ago and have a two year fixed rate mortgage with DB UK Bank. Looking to move in with my girlfriend imminently and would like to rent my property. Would like to be better informed as to the process.
- I was just enquiring if DB UK Bank were picky when considering consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- I have tenants ready to move in and I have mortgage offer from DB UK Bank 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.
- I am seeking consent to let for my flat as I am moving out for 6 months currently fixed DB UK Bank mortgage with two years which is due on May next year.
- Me and my OH and I would like to obtain consent to let on a house where we have a mortgage with DB UK Bank. If issued, how long would consent be given for? In seeking consent to let from DB UK Bank are we running the risk of them forcing us to change deal to BTL
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above DB UK Bank consent to let Questions and Answers
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
One thing to remember when arranging a consent to let mortgage with DB UK Bank 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 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform 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 DB UK Bank