Need Help?
Need professional advice for your consent to let with JPMorgan Chase Bank, N.A.? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to JPMorgan consent to let
- Two years ago I was granted consent to let from my current mortgage provider which is about to run out. Since I took this out to travel and start a family. I'm not earning enough just now to cover the mortgage on my own. I have been told I can't extend my consent to let and if I continue renting out I will be in action would be taken for breaching my mortgage contract. Due to affordability I don't think the buy to let will be approved. One option I am considering remortgaging to JPMorgan. Are they likely to issue consent to let from day one?
- Next month I will be relocating to Denmark. Rather than sell my house, I would like to rent it out, just in case things don’t go as expected. My existing mortgage is with JPMorgan. If I looked to refinance would a new provider view this as me trying to avoid a Buy To Let mortgage, of which there is very little availability for 80% LTV, and hence turn down my request for Consent to Let?
- My husband and I are hoping to make use of equity in my existing house to acquire an additional property which I intend to live in whilst I renovate it. I would like to let out my current property with the JPMorgan homeloan. I was just seeking a general view on whether JPMorgan currently allows consent to let? House is worth £300 k with a £125k mortgage in place.
- For a couple of years now I have had a mortgage with my wife on our property which is up for renewal 21st July. I am having to relocate to Brighton for my Job in this summer. What are the chances of being able to switch to a consent to let mortgage with JPMorgan?
- I’ve already been told to write a letter to JPMorgan to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
- Will JPMorgan want to know my reasons for seeking consent to let? Should I inform them of my potential relocation overseas?
- We have tenants ready to move in and I have mortgage offer from JPMorgan on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- I need to contact JPMorgan to enquire about renting out my house. Will they send a document to me. Can I not download this from the site?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above JPMorgan consent to let Questions and Answers
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
Where 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 could 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
Should the tenure of your property be 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 terms are not adhered to you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with JPMorgan your property may be repossessed