Need Help?
Need professional advice for your consent to let with Ecology Building Society? 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 Ecology Building Society consent to lease
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My husband and I intend to relocate to Floridain Month, perhaps temporarily but potentially longer term. I'm in the process of writing to Ecology Building Society to obtain consent to let out the property (we have already found tenants). I have been with Ecology Building Society for Six years and no payments have ever been missed. Ecology Building Society inform me, that even if they grant consent to let, that this will be limited for a period of twelve months. After the year is up what happens next?
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I am a first time buyer hoping to complete on a terraced house in Ecology Building Society. I have a good size deposit and expect a mortgage from Ecology Building Society. My predicament is that my partner has a apartment in Slough and I anticipate moving in next year, at which point I would have to let out my house. I understand that consent to let is required but it does not sound like a guaranteed option. Can you offer any advice?
- I am interested in finding out more about the conditions customers have to meet before consent to let from Ecology Building Society is issued. Do you know if there are any restrictions on who can be granted consent?
- Ever since 2013 I have had a Ecology Building Society mortgage with my twin and am looking to vacate and get a new mortgage with my partner. How should I go about taking in a lodger? Do I need consent to let by Ecology Building Society? My twin will remain in the flat
- I have a Ecology Building Society mortgage currently and potentially want to let it out for a limited period of time with consent from Ecology Building Society for (eighteen months). Is this possible?
- My husband and I invested in buying a place in Kenton with Ecology Building Society and am moving to rent a property in Cornwall due to work. Is consent to let from Ecology Building Societypossible? I only want to rent out the flat for six to nine months before selling.
- I want to take in lodgers for my one bedroom apartment in Bromley which I live in. My mortgage is with Ecology Building Society. How do I go about getting a consent to let?
- I am trying to find out if Ecology Building Society will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Ecology 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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit 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 violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
If you do not keep up the payments on your mortgage with Ecology Building Society your property may be repossessed