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Need professional advice for your consent to let with Leeds Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Leeds Building Society Consent to Lease Example Support Desk Enquires
- If I was to let out my garden flat with consent to let via Leeds Building Society, what proof would be required of the letting? If after twelve months I decided to let it on a series of holiday term lets, do I still need to provide proof to Leeds Building Society, or will they be content provided they receive payment each month? E.G. if I let the rooms separately at some point in the future, is there any reason for Leeds Building Society to be informed and would they care?
- In the coming months I plan to move house and I am enquiring if I can get consent to let on my house then get a mortgage approval for the new house so I can put in an offer thus being chain free and then rent my property out when I move. Is it likely that Leeds Building Society grant consent to let for six months if they know I am wanting to buy a further property or only where one is relocating temporarily for career reasons?
- My partner and I may be presented with an opportunity to work in a different office in the UK for a few months and would like to know if we can rent our current property. It is a two year fixed rate and we are seven months into the mortgage with Leeds Building Society. We have lived at the property for nearly five years. Our LTV is 80%. Are we likely to get consent to let from Leeds Building Society? What charges can we expect to pay etc
- I have an annex that my dad has vacated. As my property is large I was considering moving into the annex and rent the rest out. This is also due to change of circumstances. Would I need a consent to let from Leeds Building Society?
- Do you know whether Leeds Building Society will accept rental income on consent to let for affordability purposes or does it need to be BTL ? Would Leeds Building Society let me raise capital based on the rental revenue ?
- I am looking to get consent to let with my Leeds Building Society residential mortgage. It is a mid terraced house. Will Leeds Building Society grant consent on this basis? Or would it be regarded as an HMO?
- I could potentially need consent to let from Leeds Building Society in the future with work. I am just checking what the options would be if this was the case. Is there a limit on how long one can let out a property with consent?
- How likely is it that Leeds Building Society force me into a consent to let product whilst in a fixed rate product for 2 years?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Leeds Building Society 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 lease may prohibit 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 your covenants under 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Leeds Building Society