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Need professional advice for your consent to let with MBS Lending Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
MBS Lending Ltd Consent to Lease Example Support Desk Enquires
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Having endured living in a rough area for 3 years now, we are keen to relocate. As disposing of the property will involve early repayment charges to MBS Lending Ltd of £3500, we considered that it would be sensible to rent it out. So, we need to obtain a consent to lease from MBS Lending Ltd only for less than a year. Will MBS Lending Ltd grant consent?
- Just contacting you on behalf of my brother who has a mortgage with MBS Lending Ltd. He asked me to find out if there is a charge for granting consent to let? He has been in his property for two years but has been offered a job 95 miles away away for 2 years and was thinking about renting the home out while he is away.
- I have been a mortgage customer with MBS Lending Ltd for sixteen years. I got divorced months ago and bought the ex wife out. My circumstances have changed, I want to keep my house but live with my new partner, renting my house out. It has been suggested by my IFA that I can request consent to let by MBS Lending Ltd rather than a buy to let mortgage as I I did not buy the property in the first place in order to let, is this right?
- I am in the Royal Air Force and intending to acquire a house using a MBS Lending Ltd mortgage. I would like to obtain consent to let this house to my sister. In the future I plan to reside in the property with my family when my military career comes to an end. Is this possible?
- Interested to know if I would be able to get consent to let from MBS Lending Ltd in order to move back to my mum and dad for 12 months and save the cash to extend the lease on my property?
- Me and my husband want to let our house out and use the rental income to pay rent on a house in Southwark. What are the chances of being given consent to let by MBS Lending Ltd without being forced into a new rate.
- I would like to lease out my home to be nearer to my daughter's uni and take care of my father. Do I need consent to let from my lender MBS Lending Ltd?
- I am interested in consent to let for my home mortgaged with MBS Lending Ltd. How do I move forward? Do I have to write to MBS Lending Ltd and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above MBS Lending Ltd consent to let Questions and Answers
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
One thing to remember when arranging a consent to let mortgage with MBS Lending Ltd is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of your covenants under the lease. This could trigger 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with MBS Lending Ltd