Need Help?
Need professional advice for your consent to let with Intelligent Finance? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Intelligent Finance consent to let
- I have had consent to let via Intelligent Finance for some time now but they now wish to speak to me and I suspect their motivation may be to get rid of me. Do you have any suggestions as what I can do next?
- I need to switch my domestic mortgage with Intelligent Finance to a consent to let and looking for some advice please... I purchased my first property in Hendon fiveyears ago. After a new job opportunity I moved to Belfast, and five months ago got a residential joint-mortgage with my boyfriend. I am inclined to keep with Intelligent Finance and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if Intelligent Finance refuse what lenders can I approach.
- We may be presented with an opportunity to work in a different office in the UK for a three months and wish to know if we can lease out our existing apartment. It is a 2 year fixed rate and we are three months into the mortgage with Intelligent Finance. We have lived at the property for more than 3.5 years. Our LTV is 80%. What are the chances of obtaining consent to let from Intelligent Finance? What charges can we expect to pay etc
- I acquired my maisonette in Greenwich last September and have a three year fixed rate mortgage with Intelligent Finance. Looking to move in with my fiance next month and would like to lease out my property. Just want to know the process.
- I am looking at new mortgages and also thinking of renting the property in the future - Is there a cost with Intelligent Finance to procure consent to let and what are the requirements?
- I'm applying to switch lender to Intelligent Finance for a fixed rate but during this period would need to rent the house out for just under one year. Do Intelligent Finance consent to let on fixed rate home loans and if so, what are the costs.
- I would like to know if I have a normal mortgage with Intelligent Finance and decide to let it out, does the rate increase and are there any additional fees for applying for consent to let.
- Assuming that I was successful in obtaining consent to let from Intelligent Finance, could I sell during the consent period? Is it possible that I would incur any penalties?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Intelligent Finance 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
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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation 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 commencing legal proceedings 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 Intelligent Finance