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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.
Top Five Questions relating to Keystone Property Finance consent to lease
- We are a young couple and we have identified a property in Croydon that we like and wish to get a mortgage with Keystone Property Finance. The issue is that I am pregnant and might give birth very soon as I am on my 9th month of pregnancy. This means that it would not be possible for us to move right away so we are contemplating living with our parents for the next few months. Meanwhile, if we secure this property, we can rent it out. I was just wondering how will that work out? Are we likely to get consent to let from Keystone Property Finance
- My property worth £150k. Keystone Property Finance mortgage owing £32k with seven years left. Obtain consent to let from Keystone Property Finance for current property and utilise income to pay off remaining of mortgage. Apply for 70 per cent Keystone Property Finance mortgage on new property that I will consider to be my primary home? Is this achievable?
- After 17 years in London, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to refinance with Keystone Property Finance. In the relocation destination, we are be looking at a 4 bedroom property around the £275k mark. I would preferably like to keep hold of my existing flat. Could I ask for Consent to Let from the proposed new mortgage provider Keystone Property Finance. If granted what are the likely conditions?
- I have been offered an excellent career opportunity for 9 months abroad. I do have sufficient savings to cover the monthly Keystone Property Finance mortgage yet the block insurance stipulates continuous residency in order not to be invalidated. Last Christmas the roof had some leaks that were repaired. Should there be any problems through the winter months I would struggle to afford repair costs. How likely is it that I will get consent to let by Keystone Property Finance for the time I am abroad?
- I have a Keystone Property Finance mortgage currently and may want to let it out temporarily with consent from Keystone Property Finance for (1 year). How easy is it to obtain consent to let?
- I took a domestic mortgage with Keystone Property Finance and my circumstances have changed due to family, can I apply for consent to let. What changes will affect me?
- Interested to know if I would be able to get consent to let from Keystone Property Finance enabling me to move back in with my parents for a year or two and conserve some cash on the lease extension for my property?
- I want to take in in a lodger for my three bedroom ground floor purpose built flat in Lambeth which I live in. My mortgage is with Keystone Property Finance. Will they grant consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Keystone Property Finance 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
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 could trigger 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
If your property is leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in violation of your covenants under the lease. This could trigger 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 Keystone Property Finance