Need Help?
Need professional advice for your consent to let with Furness Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Furness Building Society Consent to Lease Example Support Desk Enquires
- My niece is going to work overseas for twelve months and wants to lease her apartment out. She has a Furness Building Society fixed rate mortgage on repayment and wants consent to let the property as well as switch to interest only. What does she need to do?
- I applied for consent but was refused as I did a remortgage in June but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. As a backup plan I can remortgage with Furness Building Society but will they give me consent straight away?
- My husband and I are in a tricky mortgage situation in the last 2-3 month. We have to rent our house with consent to let and move to a new due to schooling. We now rent a property. We are finding it very difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- Need some help regarding renting a property and consent to let. Later this year I intend to move in with my fiance. The local authority would like to rent my flat for five year commitment with rent and service charges covered. The mortgage is with Furness Building Society. Please help
- I am looking to Furness Building Society to issue me with consent to let out my flat in Barnet. I am moving to Norway for 5 months for work.
- I took a residential mortgage with Furness Building Society, and I would like to rent the flat out, until I decide whether to sell or hold on to it as an investment. As things stand I am on the fixed rate. Will I need to move onto a new mortgage? I.E. buy to let?
- I wishing to obtain consent to let for my property as I am moving out for four months currently fixed Furness Building Society mortgage with two years which is up on June next year.
- Does my loan to value need to be at a certain ratio to allow me to apply for a consent to let from my mortgage lender Furness Building Society. Does it make a difference that I only took out the mortgage two months ago?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Furness Building Society consent to let Advice
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
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 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
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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Furness Building Society