Need Help?
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.
Investec Consent to Lease Example Support Desk Enquires
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Soon to be packing up as my husband and I intend to relocate to Tokyoin Month, initially short-term but conceivably longer term. We have just applied to Investec for consent to let out my property (we have already found tenants). The mortgage has been in place with Investec for Six years and there have been no arrears. Investec inform me, that even if they consent to the letting, that this will be limited consent for a period of twelve months. Do I then need to reapply?
- Are you able to advise me what fees Investec levy for consent to let out part of my garden flat? Any insights would be appreciated.
- My husband and I have just sorted our rates for another fixed period with Investec. However, I went to an interview and basically I accepted the job offer in Barnet. I'm going to rent a one bed flat for the family in Ealing as we don't want to sell the house and moreover we might come back within a couple of years.... We really don't know whether it will work out. We have contacted Investec but we would appreciate your take on the situation. How is it to receive consent to let in that case as we secured a fixed 5 years rate we would not want to change.
- I intend to lease our current apartment out shortly after we find a new house. I will apply for consent to let from Investec. The property is currently in my name but I am a top rate tax payer. Is it best to do a equity transfer to her or should we do a Declaration of Trust?
- My husband and I have a Investec home loan currently and may want to let it out for a short period of time with consent from Investec for (1 year). Is this achievable?
- If we request a consent to let letter from Investec will we be made to convert to buy to let mortgage? We are with Investec and as houses are not currently selling but we have seen one we like we were leasing our home out in order to buy the new and dispose of this one if the value picks up.
- I would like to know if I have a normal mortgage with Investec and decide to lease it out, does the rate change and are there any associated fees for seeking consent to let.
- I have a residential mortgage with Investec. I bought the property in December last year. What are the options and criteria for consent to let.
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Information to consider in further to the above Investec consent to let Advice
Tax and Legal
There may be various 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 inform them may trigger your insurance becoming invalid. 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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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 Investec