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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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I am employed by letting specialists in loc and a potential tenant for the house has demanded a copy of the ‘consent to let’ from the owners lender Rooftop Mortgages. Is this a new type standard inquiry?
- Hi, I have a mortgage on a flat with Rooftop Mortgages and I am pondering on the idea of renting the property out. Could this be done without changing to a BTL or obtaining consent to let from Rooftop Mortgages?
- My fiance and I might have to lease out her apartment, and I have a question regarding obtaining permission to do so. I know I need to inform Rooftop Mortgages and get a consent to let or move across to a buy to let mortgage. But the property is leasehold, so do we have to get consent to let from the freehold company?
- I need to decide what to do ie let or sell. I have a Rooftop Mortgages mortgage on my house (with a large chunk of equity). We are planning to move out of Leeds and if at all possible would like to to let our house with consent to let from Rooftop Mortgages and use the income from that to help get approval for a second mortgage for a house to live in. How can I fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- I was just enquiring if Rooftop Mortgages would issue me with consent to let and what kind of fees, penalties and new rates etc
- We have a owner-occupier mortgage with Rooftop Mortgages and are deliberating on obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Before we apply I would like to know the ramifications of making the change and any facts that we need to consider.
- I am after further information concerning consent to let mortgages, potentially switching our existing mortgage with Rooftop Mortgages across to a consent to let one.
- Is consent to let required from Rooftop Mortgages if I am intending to occupy the property myself for half of the year? In addition if I obtain consent to let for a limited time, say up to twelve months, what happens after that.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Rooftop Mortgages consent to let Questions and Answers
Tax and Legal
There may be various 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 trigger your insurance becoming invalid. 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
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 breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them taking legal action 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