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Need professional advice for your consent to let with Fleet Mortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Fleet Mortgages consent to lease
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Doing everything by the book I’ve been leasing out my house with "consent to let" from Fleet Mortgages on a regular mortgage for the last 24 months. Fleet Mortgages have now advised that they are revoking consent to let if we do not convert to one of their "buy to let" loans.
- Can you please tell me what Fleet Mortgages charge for consent to let out a room in my garden flat? Any answers are gratefully received.
- At the moment have a three year fixed term home loan with Fleet Mortgages that we're about one year into. Our situation has now altered and we would like to rent out our house for a year and whilst we relocate to Southwark. How do we minimise the possibility of Fleet Mortgages rejecting consent to let.
- I have been a mortgage holder with Fleet Mortgages for 1999. I got divorced two years ago put the property in my name by transfer of equity. My situation has changed, I want to retain my house but live with my new partner, letting my house out. It has been suggested by my broker that I can seek consent to let by Fleet Mortgages instead of a BTL mortgage as I I did not buy the property in the first place in order to let, advice please?
- My OH and I have a owner-occupier mortgage with Fleet Mortgages and are considering obtaining consent to let so that we can apply for a further mortgage on another property that I own on a buy to let basis. Ahead of applying it would be helpful to know the implications of making the change and any facts that we need to be aware of.
- Can I refinance with Fleet Mortgages with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
- I am looking for some generic information on consent to let. I currently have a mortgage in place with Fleet Mortgages. I have had approval to temporarily rent out my apartment from the freeholder of the block and they asked if I have consent to from Fleet Mortgages.
- Is there a set or maximum term how long I could rent my property out to a family member with consent to let from Fleet Mortgages. I no longer want to live in the area and want to buy a new home?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Fleet Mortgages 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
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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach 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 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 Fleet Mortgages