Need Help?
Need professional advice for your consent to let with Metro Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Metro Bank consent to let
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My lender has placed me in a catch 22 with a Consent to Let mortgage. Reacting to my requisition for consent to let my lender has asked me to provide them with an executed tenancy agreement as a prerequisite to granting consent. Is is not the case that if I adhered to their request that I would be violating the terms of my existing mortgage?
- We are a young couple and we found a home flat in Westminster that we like and want to get a mortgage with Metro Bank. My concern is that I am pregnant and about to 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 thinking to keep living with our parents for the next few months. In the meantime, if we secure this property, we can lease it out. I was just wondering how will that work out? Are we likely to obtain consent to let from Metro Bank
- I'm currently seeking a mortgage as FTB and considering Metro Bank with my broker. Suppose I choose a five year fixed rate I move in the property and after one year, I come to get an opportunity of work relocation requiring moving abroad. If Metro Bank grants me consent to let,does the rate load the interest rate?
- Do the estate agents we rented through owe us a a legal obligation to have ensured that the landlord got consent to let from Metro Bank?
- Me and my husband have a mortgage with Metro Bank but am informed they have a policy that they refuse to grant consent to let the property to a housing association. Is this correct and if so, can you suggest a way to bypass this?
- Where I have an existing normal mortgage with Metro Bank and am planning to rent it out in the future will I be given consent to let? What is the process and what needs to be done next?
- Last month purchased a one bed flat in Southwark. I am first time buyer. I am moving Paris next month, can I get consent to let from my lender Metro Bank or do need to wait for at least 6 months?
- Will I need consent to let from Metro Bank if I am intending to reside in the flat myself for part of the year? Also if I obtain consent to let for a period of time, say up to two years, what happens thereafter.
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Metro Bank 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 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
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 violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform 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.
If you do not keep up the payments on your mortgage with Metro Bank your property may be repossessed