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.
Examples of recent questions relating to Platform Home Loans consent to let
- I'm currently seeking a mortgage as FTB and considering Platform Home Loans with my financial adviser. Let's say I choose a three year fixed rate I move in the property and after twelve months, I come to get an opportunity of work relocation requiring moving abroad. Where Platform Home Loans gives me consent to let,would the interest rate increase?
- My fiancee and I are FTBs, presently renting. We want to buy a studio flat in Tower Hamlets. We want to move there, but will need to wait for a job - perhaps a couple of years. Would we need to seek a B2L loan? Could we have a 1st time buyer mortgage with Platform Home Loans, because we intend to move there soon? Alternatively could we reside there for a few of months, then start renting it with consent to let from Platform Home Loans? I'm only interested in suggestions that are entirely legal, and wouldn't breach the terms of the Platform Home Loans mortgage.
- I have a Platform Home Loans mortgage and have been letting out the property omitting to get consent to let, making me in breach of my mortgage conditions. I think I have come onto their radar that I am not living there. Is my only option is to dispose of the apartment before repossession?
- I have a mortgage with my wife on our flat which is up for renewal 21st August. I am having to relocate to Bristol for my Job in this summer. Is it possible to transfer for a consent to let mortgage with Platform Home Loans?
- When it comes to consent to let from Platform Home Loans am I obliged to inform them every time we get a new tenant and forward them a copy of the AST?
- I am looking to Platform Home Loans to issue me with consent to let out my flat in Merton. I am moving to care for my step-mum who has liver failure
- I would like to know whether Platform Home Loans would have archive records as to whether consent to let was granted for a specific property?
- I want to get consent to let from Platform Home Loans for a couple of years at which point I hope to switch to a B2L. Is this achievable
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Platform Home Loans consent to let Advice
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 conditions are not complied with you may be in violation of your covenants under 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 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 Platform Home Loans your property may be repossessed