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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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Frank (my fiance) and I may need to rent out our Ealing home temporarily due to me taking a sabbatical. This will be for a limited period but possibly for as long as three years. Should I tell Investec or should I keep schtum?
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I have a residential mortgage over my home in loc and intend to move to country for a couple of years. During this period it makes financial sense to let out my apartment. My lender says I cannot have consent to let. I don’t really want a buy to let mortgage as it’s only a short term option that I am abroad for.
- I let my house last June and didn't tell Investec. I have a three year residential mortgage (healthy equity in it, never defaulted) and want to let Investec know and get consent to let for the remaining two years of my mortgage . I am unsure what to do.
- I have a mortgage with a friend on our house which is up for renewal 21st August. I am having to move to Reading for my Job in February. Is it possible to transfer for a consent to let mortgage with Investec?
- I have a mortgage with Investec on a two year fixed term contract. I could have an opportunity for a teaching position overseas next summer. Am I eligible for consent to let via Investec were I to accept this job abroad?
- Can I get an interest only mortgage with consent to let when my current Investec deal runs out June 21?
- I am trying to find out if Investec 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.
- I'm interested in more information regarding consent to let from Investec. Would a valid reason be parking problems and the house is too big for me to run at this moment in time?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Investec 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
If you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them may result in your insurance becoming null and void. 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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach 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 Investec your property may be repossessed