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.
Common questions relating to Metro Bank consent to lease
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I work for letting specialists in loc and a potential tenant for the house has demanded a duplicate of the ‘consent to let’ from the owners lender Metro Bank. Is this a new type standard inquiry?
- Earlier this year I rented out my maisonette having been granted Consent to Let with my building society. Six months have now gone by and they have upped my payments as forewarned. I am unable to change to a more favourable product with them, as they will remove my consent to let. Were I to go with another provider for example Metro Bank, would I need to take out a BTL mortgage or could I simply remortgage and ask for further consent to let?
- My husband is in the army and he has been posted overseas and as we want to move as a family we need 'Consent to let' from our lender Metro Bank. Can you help me?
- I am planning to lease out my house for a year from 5th September next year. Is there conventional wording for a letter I can use to write to Metro Bank to apply for consent to let.
- If I were to apply for consent to let from Metro Bank what is the time scale Metro Bank would take to make a decision?
- My husband and I are considering a remortgage and also thinking of renting the property in the future - Is there a charge with Metro Bank to receive consent to let and what are the requirements?
- I currently have my mortgage with Metro Bank and have been for the previous eighteen months and I am interested in finding out some more information about the possibility of obtaining 'consent to let’.
- Me and my OH and I would like to obtain consent to let on a house where we have a mortgage with Metro Bank. If issued, how long would consent be given for? In seeking consent to let from Metro Bank are we running the risk of them forcing us to change deal to B2L
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Metro Bank consent to let Info
Tax and Legal
There are numerous potential 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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 restrictions are not strictly observed you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform your co-owner of your intention to let could result in them taking legal action 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 Metro Bank