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.
Common questions relating to Marsden Building Society consent to lease
- I purchased a garden flat in Greenwich in 2009 and remortgaged with Marsden Building Society on a rate which expires in the coming months. If I go overseas for work and want to let out my property what would I need to do to get consent to let and what are the consequences?
- Me and my girlfriend are about to buy a house together. Plan is for me to get consent to let my flat from Marsden Building Society. Thinking further ahead - when my 2 year fixed comes to an end - how would it work if I sought to refinance then?
- I bought my studio flat in Hounslow one year ago and have a 2 year fixed rate mortgage with Marsden Building Society. Looking to move in with my girlfriend imminently and would like to let out my property. Would like to be better informed as to the process.
- In 2003 I was granted permission by the local authority and my mortgage provider Marsden Building Society to convert a small barn into a granny annex, conditional on it not being disposed of separately from the main property. My parents passed away some years ago and I would now like to rent it out with consent to let from Marsden Building Society. Do you think this will be possible?
- I have to send the consent to let form by courier and need to know if Marsden Building Society have a regular postal address I can use as couriers usually will not accept deliveries to PO Box addresses.
- I would like to lease out my house. Do I just post a letter to Marsden Building Society asking for consent to let out the property?
- I have Marsden Building Society mortgage and am considering letting the property. I am lead to believe that I would require consent to let to do this...is that true ?
- I have a residential mortgage with Marsden Building Society, and I would like to rent the flat out, until I decide whether to sell or keep it as an investment. As things stand I am on the standard variable rate. Will I need to remortgage? I.E. BTL?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting 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
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 inform them may result in 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
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 breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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