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Need professional advice for your consent to let with Secure Trust Bank PLC? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Secure Trust Bank Consent to Lease Example Support Desk Enquires
- My brother and I are presently eighteen months into a year fixed rate mortgage with Secure Trust Bank. Ideally we would like to acquire a more substantial second property in the coming months however would prefer to keep the first home and I was enquiring as to what reason we could put down on the consent to let application to obtain consent to from Secure Trust Bank
- I am looking to get a consent to let from Secure Trust Bank as my personal circumstances have altered. My stepdaughter started college and I felt we would move to the area and chose to purchase a property rather than rent for 3 years. Since purchasing the house I have fallen out with my step daughter and she refuses to live there. Since the whole idea was for her and the house location is not particularly convenient for my work I would like to leave and rent out the house
- My brother is intent on letting his flat out on the QT without consent to let from his mortgage provider Secure Trust Bank. He has been on an interest only loan for about six years now. Currently owes £99k, having paid for the apartment for about £110k. In the absence of gaining consent to let by Secure Trust Bank, exactly what sanctions does he risk?
- Following retirement in 2014 I acquired a “retirement home” for my wife and myself to live in. We would like to let our current property to our grandson and I have consequently asked Secure Trust Bank for consent to let. Do you think this is likely to be issued?
- My lender refuse to issue consent to let until I have a move in date confirmed with a tenant. How can I confirm this whilst lacking consent to let? I am not sure but I think my friend had a similar issue with Secure Trust Bank.
- I am looking to Secure Trust Bank to grant consent to let out my home in Redbridge. I am moving in with partner, cant sell property
- I have Secure Trust Bank mortgage and am considering renting out the property. I am lead to believe that I would require consent to let to do this...is that right ?
- Just wanted to know what needs to be provided to Secure Trust Bank in order to get consent to let? I just finished a three year fixed mortgage and thinking of moving to another flat with my partner.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Secure Trust Bank consent to let information
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
One thing to remember when arranging a consent to let mortgage with Secure Trust Bank is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 lease may prohibit 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 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 taking legal action 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 Secure Trust Bank