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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.
Top Five Questions relating to Investec consent to lease
- I am with Investec and just had to apply for consent to let, but wondered if they set any requirements on the level of rental to be received?
- Last month I was offered a job overseas and wondering if it's worth renting my house out. Will Investec permit me to switch mortgage or issue me with consent to let? If not I will have to consider if I should accept the promotion. I wouldn't mind paying an increased amount as I intend to return and live in my home after twenty four months. My agenda here is not to to make money. Just really like my property and want to return to it one day.
- Can you explain "consent to let" to me? I live in a 1 bed flat and its in good condition. It has been on with agents for two months and I have had very few viewings. This is because my neighbour is noisey. I have had to mention this on the disclosure sheet. Mortgage is with Investec on a standard variable rate. Someone mentioned I should get consent to let via Investec and let the flat out.
- As a result of a change in personal circumstances my wife and I are moving to my parents house while they are away and letting our home out. We are going to need for consent to let from Investec. Will this be granted? We will need to refinance in the next year will we then transfer to a BTL mortgage. We intend to return to our property at the beginning of 2017?
- What is the longest period that Investec is willing to issue Consent To Let for?
- I have a letter to Investec requesting consent to let signed and ready, but I'm not sure what address I should forward this to. Can you please help me with the address?
- My husband and I are interested in understanding the Investec consent to let procedure and conditions for granting.
- I have a mortgage with Investec. I am considering moving out and renting out my apartment. Do I need a consent to let ?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Investec consent to let Info
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 provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Investec