Need Help?
Need professional advice for your consent to let with Skipton Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Skipton Building Society consent to let
- Just looking for some information, I have a mortgage on an apartment with Skipton Building Society and I am pondering on the idea of renting the property out. Can I do this without transferring to a BTL or receiving consent to let from Skipton Building Society?
- I have just received a mortgage offer with Skipton Building Society. I anticipate that I will complete in the coming weeks, however I may potentially be posted abroad for work. How likely is it for me to get consent to let from Skipton Building Society shortly after completing. Are there any other options open to me?
- We are looking to apply to Skipton Building Society for consent to let on our current residential property in Merton. I am looking to release equity from my existing home ahead of this, and making use of that money to acquire a second residential property. I will stay in that house whilst renovating it for nine months at which point the intention is to sell it then move back to my existing property. Is this something Skipton Building Society will consider consent to let for or does this fall outside the standard criteria?
- My wife and I are the registered owners of a house in Newcastle and will be moving to Cornwall at the beginning of February. I have a letting agency and tenant now. I was planning to leave everything as it stands as I'm afraid Skipton Building Society will say I have to change my mortgage rate over to a buy to let which is not financially feasible. I appreciate that it would be preferable to secured a consent to let via Skipton Building Society but am afraid if I open Pandora's box it would lead to a whole host of problems
- I have a residential mortgage with Skipton Building Society and require consent to let. What are the factors and procedures that I need to be aware of in order to obtain consent?
- I have Skipton Building Society mortgage and am considering leasing out the property. I am lead to believe that I would need a consent to let to do this...is that correct ?
- What, if any, income criteria do Skipton Building Society set for consent to let on an existing domestic mortgage?
- I'm mulling over a remortgage offer with Skipton Building Society and it's likely I will end up asking for consent to let during the fixed period. Are there any charges I should consider?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Skipton Building Society consent to let Info
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
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
If your property is leasehold, the lease may prohibit 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 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Skipton Building Society