Need Help?
Need professional advice for your consent to let with New Life Mortgages Ltd? 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 New Life Mortgages consent to let
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We just obtained consent to let from New Life Mortgages. After some effort, New Life Mortgages have issued me with ‘consent to let’ confirmation . The conditions attached to the consent refer to an assured shorthold tenancy. What is that?
- Are you able to advise me what New Life Mortgages charge for consent to let out part of my garden flat? Any answers are appreciated.
- In a situation where a property owner chooses to let out their property in the absence of consent to let via New Life Mortgages - what, if any implication might there be for an agent acting for the landlord?
- My fiance and I are looking to let out our three bedroom second floor purpose built flat in Ealing in the new year. I would like some guidance on what I need to do. I've just moved our New Life Mortgages mortgage to a fixed term and just need to understand the process and what information I'll need to get consent to let.
- I am looking for information on the requirements that New Life Mortgages set for consent to let? Are you able to assist?
- My wife and I are planning to relocate to Kenya for a couple of years for my job but I don't want to change the mortgage to BTL as I want to reoccupy it when I return. Do you know if New Life Mortgages charges additional interest? Is there any work around?
- I have split up with my ex and we have moved back in with our respective parents and plan to divorce. What do I have to do to get New Life Mortgages to give consent to let the property out to students?
- Can I remortgage to New Life Mortgages from my existing provider, with a consent to let or do I need a let to buy mortgage, and if so what are the LTV's?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above New Life Mortgages 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
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 notify 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 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform 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.
If you do not keep up the payments on your mortgage with New Life Mortgages your property may be repossessed