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Need professional advice for your consent to let with Rooftop Mortgages Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Rooftop Mortgages consent to let: Q and A’s
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We have a Rooftop Mortgages mortgage and are are not in arrears, both employed etc. Can you tell me how much the fees are and if Rooftop Mortgages usually grant consent to let without porting the loan to a new mortgage product?
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My lender has placed me between a rock and a hard place with a Consent to Let mortgage. Having sought consent to let my lender has requested that I produce a signed tenancy agreement before they will grant permission. Is is not the case that if I adhered to their request that I would be violating the lender’s terms and conditions?
- I have recently been provided with a job opportunity abroad and wondering if it's worth leasing my house out. Will Rooftop Mortgages allow me to change mortgage or issue me with consent to let? If not I will have to consider if it's worth taking the promotion. I wouldn't mind paying more as I intend to return and move into my home after 1 to 3 years. My agenda here is not to profit. Just really like my property and wish to return to it one day.
- How easy is it to change a homeowner mortgage with Rooftop Mortgages to a consent to let. It will be less than 70% loan to value and it would alter from capital and interest repayment to interest only?
- I will have to move to NYC for a couple of years, I have a property with a Rooftop Mortgages mortgage. Do I need to ask consent to let? Will they willing to grant this?
- We have a mortgage with Rooftop Mortgages at present and just wondering if there any fees for obtaining consent to let
- I was wondering if you could assist. I require consent to let from Rooftop Mortgages and was wondering if this option is available to me to move to as I have to move back home to look after my mum
- I have a homeowner mortgage with Rooftop Mortgages. I bought the property in December last year. Is it possible to get consent to let.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Rooftop Mortgages 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
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 conditions are not complied with you may be in breach of your covenants under the lease. This could trigger 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Rooftop Mortgages