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.
Common questions relating to JPMorgan consent to lease
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Is consent to lease required from JPMorgan or can I lease out my property without telling JPMorgan and having to transfer to a B2L mortgage?
- I have a mortgage with JPMorgan. I wish to purchase a second property and my financial adviser suggested I seek consent to let. I was under the impression that they only accept the consent to let if I have the intention to reoccupy my current home. Your view would be appreciated?
- Am I obliged to inform JPMorgan of my intention to rent a room out to a lodger. I have two spare rooms that could be used by lodgers and I was thinking that as the occupancy remains in keeping with that of the 'family' use of the property it might not require consent to let. Can you help clarify? I am taking independent advice on the insurance, legal and tax ramifications.
- Me and my husband are in a complex mortgage scenario currently. We have to let our house with consent to let and move to a different location to be nearer to our daughter’s college. We are about to rent a home. We are finding it extremely difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- I previously took a mortgage with JPMorgan, but I am going to need to get consent to let for about a year as my partner is unwell and is struggling to balance work with the hectic environment we are living in. We want to take a break for a year (by living near her mother and stepfather and getting their help) in a greener less hectic suburb of Manchester.
- Will JPMorgan choose to exercise a right to switch the rates on a standard mortgage where Consent to Let at any time, onto ‘rates equivalent to their Buy to Let range'? Can one remortgage on a consent to let with JPMorgan?
- I hope to buy a new home but can't afford to sell the existing flat with a JPMorgan mortgage. Do you know the criteria for JPMorgan to issue consent to let? Is getting married and having kids a sufficient reason to seek consent?
- I am trying to find out if JPMorgan 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.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above JPMorgan consent to let Info
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
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 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
Neglecting to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with JPMorgan