Need Help?
Need professional advice for your consent to let with ModaMortgages? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to ModaMortgages consent to lease
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Doing everything by the book I’ve been leasing out my house with "consent to let" from ModaMortgages on a standard mortgage for the past 24 months. ModaMortgages have just written revoking consent to let if we do not switch to one of their "buy to let" mortgages.
- I would like to purchase a second property having recently bought a garden flat on normal mortgage. Planning to purchase in a few months time. I am told that I may have to get a consent to let from ModaMortgages, my current mortgage provider? What is the best way to manage this and procure the consent needed.
- Please explain "consent to let" to me? I live in a studio apartment and its in good condition. It has been on with agents for two months and I have had very few viewings. This is probably due to an longstanding dispute with the family next door. I had no choice but to mention it on the disclosure sheet. I am with ModaMortgages on a fixed rate. Someone mentioned I should seek consent to let by ModaMortgages and let the flat for a couple of years.
- I am a landlord having served eviction orders on a tenant who had not paid rent. The relevant proceedings have been served. The tenant's defense for non payment is built on the claim that I lack consent to let my maisonette from my mortgage company ModaMortgages
- I would like to purchase a new house but can't afford to sell the current property with a ModaMortgages mortgage. Do you know acceptable terms for ModaMortgages to grant consent to let? Is getting married and having children a good enough reason to seek consent?
- My fiance and I have a mortgage with ModaMortgages and would be thinking about purchasing another main residence and then subsequently letting our current property out. Do I need consent to let from ModaMortgages?
- Will I need consent to let from ModaMortgages if I am planning to live in the apartment myself for part of the year? Also if I obtain consent to let for a period of time, say up to 2 years, what happens thereafter.
- I was just wondering if there are any charges in obtaining consent to let on a freehold property when I have a mortgage with ModaMortgages
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above ModaMortgages consent to let information
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
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
If your property is 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 terms are not adhered to you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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.
If you do not keep up the payments on your mortgage with ModaMortgages your property may be repossessed