Need Help?
Need professional advice for your consent to let with Saffron Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Questions and Answers: Saffron Building Society consent to let
-
Soon to be packing up as my husband and I will move back to Germanyin Month, initially temporarily but conceivably longer term. I have contacted Saffron Building Society to obtain consent to let out our home in Saffron Building Society. I have had a mortgage with Saffron Building Society for 7 years and I have never had any arrears. Saffron Building Society inform me, that even if they consent to the letting, that this will be limited consent for a single year. After the year is up what happens next?
- My husband and I are applying for a home loan with Saffron Building Society, but we hit a brick wall. My husband is the deputy head in a boarding school, and as such we are provided with accommodation as part of his employment. We wanted to purchase a maisonette with a view to joining the property ladder, and rent it out while we're based at the school. I had thought Saffron Building Society would grant consent to let from the outset of the mortgage. It transpires that we may not be able to get consent to let. Can you give me any advice?
- A friend of mine recently asked for CTL from the Woolwich which they refused citing that the mortgage had not been going for even half a year. I am about to seek consent to let from Saffron Building Society. Will they adopt the same rule?
- My fixed rate mortgage with Saffron Building Society comes to an end on 21st July. I am required to relocate to Newcastle with work in this winter. I wish to rent the house initially. Can I get a consent to let the property?
- I am looking to Saffron Building Society to grant consent to let out my home in Hounslow. I am moving in with partner, cant sell property
- I am trying to investigate if it is possible to get a consent to let mortgage with Saffron Building Society rather than a buy to let mortgage
- I am potentially moving in with my boyfriend but prefer not to sell my property. How do I go about applying for consent to let from Saffron Building Society, and how likely is it that this will be obtained?
- I need to lease out my flat to be closer to my daughter's uni and look after of my father. What do I need for the application of consent to let from Saffron Building Society?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Saffron Building Society 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
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
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 breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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 Saffron Building Society your property may be repossessed