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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
- Havering property valued at £275,000. Secure Trust Bank mortgage owing £20k with 5 years left. Obtain consent to let from Secure Trust Bank for current apartment and make use of rent to pay off remaining of mortgage. Take out sixty % Secure Trust Bank mortgage on new house that I will consider to be my main home? Can this be done?
- We currently have a three year fixed rate home loan with Secure Trust Bank that we're approximately 12 months into. Our circumstances have now altered and we would like to let out our flat for a year and move to another town. What can we do to mitigate the possibility of Secure Trust Bank refusing to grant consent to let.
- My house had been let to students for three years between 2009-2012 while living overseas. I have a letter dated June 2010 from my building society granting consent to let. In the letter it clearly states that the consent to let is valid for "the remaining term of the mortgage". I have not remortgaged since the letter was issued. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be sufficient for the new lender Secure Trust Bank for the house I intend to purchase.Can this be correct
- I got a normal mortgage with Secure Trust Bank last September and then had to relocate for work, I am now considering renting my property out for six months whilst I am abroad. Am I able to get a consent to let from Secure Trust Bank, and what effect would this have?
- Secure Trust Bank. Will they issue consent to let a house for 18 months? I will move back in again as a resident.
- I am deliberating on renting my apartment will Secure Trust Bank charge me for a consent to let letter?
- I would like to rent the attic in my flat in Haringey. Do I need consent to let from my mortgage co Secure Trust Bank?
- I wish to apply for consent to let from my mortgage provider Secure Trust Bank to let out my flat. . Do Secure Trust Bank give consent to let in this scenario?
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General Advice to read in further to the above Secure Trust Bank consent to let Advice
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
Where 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 inform them may trigger your insurance becoming null and void. 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 obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise 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.
If you do not keep up the payments on your mortgage with Secure Trust Bank your property may be repossessed