Need Help?
Need professional advice for your consent to let with Marsden Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Marsden Building Society Consent to Lease Example Support Desk Enquires
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I am employed by a letting agency in loc and a potential tenant for the house has demanded evidence of the ‘consent to let’ from the owners lender Marsden Building Society. Why would they ask for this
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My lender has placed me in a catch 22 with a Consent to Let home loan. Reacting to my requisition for consent to let my lender has requested evidence of a signed tenancy agreement before they will grant permission. If I get a signed tenancy agreement would I not be breaching the lender’s terms and conditions?
- My property valued at £95k. Marsden Building Society mortgage owing £25k with seven years left. Obtain consent to let from Marsden Building Society for current flat and use rent to pay off what is left of mortgage. Apply for 70 % Marsden Building Society mortgage on second premises that becomes my main residence? Is this possible?
- Twelve years ago I was granted permission by the local authority and my lender Marsden Building Society to convert a small barn into a granny annex, conditional on it not being disposed of separately from the main house. My parents died some years ago and I would now like to lease it out with consent to let from Marsden Building Society. Do you think this can be negotiated?
- This is not a question specific to Marsden Building Society but do mortgage companies usually provide the information I need for my Buy to Let or Consent to Let self-assessment tax submissions?
- I took a mortgage with Marsden Building Society but am told they have a policy that they do not give consent to let the property to a local authority. Is this correct and if so, can you suggest a way round this?
- I would like details of how to go about gaining consent to let from Marsden Building Society and what, if any, fees apply.
- I want to get consent to let from Marsden Building Society for a few years at which point I hope to transfer to a BTL. Is this possible
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Marsden 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
Should the tenure of your property be 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 breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Marsden Building Society