Need Help?
Need professional advice for your consent to let with Platform Home Loans Ltd? 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 Platform Home Loans consent to lease
-
My partner and I plan to return to Perthin Month, initially for a little as 9 months but conceivably longer term. We have just applied to Platform Home Loans to obtain consent to let out our property (we have already found tenants). I have been with Platform Home Loans for three years and there have been no arrears. Platform Home Loans advise, that even if they give permission, that this is a short term consent for 12 months. What happens after one year?
- I have exchanged contracts for an off plan property in which I was going to move into, but my boss has presented me with the opportunity to work overseas for three years, can I let the new property with consent to let from Platform Home Loans.
- My granddaughter is going to work overseas for three years and wants to lease her apartment out. She has a Platform Home Loans fixed rate mortgage on repayment and wants consent to let the property as well as switch to interest only. What does she need to do?
- My husband and I are in a tricky mortgage scenario in the last 2-3 month. We have to rent our apartment with consent to let and move to a new due to schooling. We now rent a house. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- I am thinking of renting my house will Platform Home Loans bill me for a consent to let letter?
- Should I decide to apply for consent to let from Platform Home Loans please can I know the time scale Platform Home Loans would take to make a decision?
- I am considering relocating with work and would need to rent my property out. I have a mortgage with Platform Home Loans. My property is worth approx £185k and owe £57k on it. How likely is it that Platform Home Loans increase my interest rate?
- Was wondering how to get a consent to let from Platform Home Loans who I have a mortgage with. There is an outstanding balance of 47k. The value of property is 245k. Property is in my name but my wife and I would like to purchase a maisonette in Waltham Forest we have seen together. How do we go about it?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Platform Home Loans consent to let Questions and Answers
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
Omitting 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 to have a license to do so from the freeholder. If such conditions are not complied with you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Platform Home Loans