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Need professional advice for your consent to let with Keystone Property Finance? 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 Keystone Property Finance consent to lease
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Can Keystone Property Finance choose to operate a right to put a loading on my interest rate on a regular mortgage where the lender has granted Consent to Let at any time, onto ‘rates akin to their BTL products'?
- Contracts were exchanged last month with a developer for a property in which I was going to move into, but my manager has presented me with the opportunity to work overseas for 18 months, can I let the new property with consent to let from Keystone Property Finance.
- Under what situations will consent to let for a property be given from Keystone Property Finance? How long do you have to have had owned the property before consent to let can be negotiated with Keystone Property Finance? By way of background we are going abroad for a year and a half with my wife’s company and will need to rent our house. I would be interested in seeking consent to let in the first instance to be able to renting the property out to cover the expense of the Keystone Property Finance mortgage.
- We I have a owner occupier mortgage with Keystone Property Finance but I would like to occasionally let the property out as a holiday let....am I obliged to obtain consent to let from Keystone Property Finance?
- Last month I got married and I am in the process of buying out 100% of my co-ownership mortgage with my wife. As a result we have now been given a 90% loan to value on our house. We want to buy a larger place. Will it be possible to get a consent to let on my new mortgage with Keystone Property Finance to allow us to get a mortgage also with Keystone Property Finance for a new home?
- Will Keystone Property Finance want to know my reasons for seeking consent to let? Is it wise to inform them of my potential relocation overseas?
- Hi my partner and I own and live in 2 separate properties can I obtain consent to let from Keystone Property Finance and let my 2 bed flat out if I move in with her?
- I wish to get consent to let from Keystone Property Finance for two years at which point I can turn it into a B2L. Is this achievable
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Keystone Property Finance 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
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 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
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 conditions are not complied with you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Keystone Property Finance