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Need professional advice for your consent to let with Investec Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Investec consent to lease
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We have a Investec home loan and are have made overpayments to bring the loan amount down, both employed etc. Do you know how much it will cost and if Investec are likely to give us consent to let without porting the loan to a different deal?
- I have a one bedroom first floor purpose built maisonette but I am never there, exploring the possibility of renting it out. My mortgage is with Investec, would I have to move onto a new mortgage deal or do I apply for consent to let?
- Am I required to inform Investec of my intention to rent a caravan out on my property. Can you shed any light on this? I am taking separate advice on the insurance, legal and tax side of things .
- I am currently looking to purchase my first home however, I am self employed. I want to chose a mortgage provider that allows short term letting with a domestic mortgage so that I could rent out the property temporarily with long periods of absence without being compelled to a BTL rate. Are you able to advise me on how lenders would perceive this and specifically the stance taken by Investec.
- My fiance and I have already let but only just dawned on us that Investec should've been advised and consent to let applied for - can this be obtained retrospectively?
- Will Investec want to know my reasons for applying for consent to let? Should I disclose my possible move overseas?
- Me and my brother have had my home loan with Investec since 2005 and always made payments If I sought consent to let would I receive a positive response?
- Last month I bought a property with 10% deposit for personal uses. A homeloan was taken with Investec. But my circumstances have now changed. I am being transferred abroad. Am I able to get consent to let from Investec and put the house up to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Investec 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
Omitting 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
If your property is 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 violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Investec your property may be repossessed