Need Help?
Need professional advice for your consent to let with Swansea Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Swansea Building Society consent to let
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My mortgage is approaching refinancing with Swansea Building Society. I have had the property rented out for a two years and I think I need to informSwansea Building Society. I understand that I should seek consent to lease, but given that the property has already been let out for a considerable time could they decline - determine that I go onto a BTL rate or even apply a penalty? There is excellent equity - 30% LTV and have never missed any payments.
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I’d appreciate your advice if you have had experience requesting Consent to Leasefora year from Swansea Building Society or whether you have any tops as to how such permission is obtained.
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I have a standard mortgage over my property in loc and am due to relocate to country for two years. During this time it would be ideal if I could let out my house. My lender will not provide me with consent to let. It’s hardly ideal to move to a buy to let mortgage as it’s only a short term option that I am abroad for.
- I am looking to acquire a ground floor flat in Redbridge. I will only want to reside there for a year, and subsequently move into a bigger property. As opposed to disposing of the first property I would like to rent it out so that it becomes an investment. Do you know if Swansea Building Society would grant consent to let after 6 months?
- It would be helpful to know if Swansea Building Society are likely to give consent to us letting out our flat in Hounslow
- I am just finding out some information at this stage. My boyfriend has asked me to move in with him and i'm not keen to sell my property just yet. So now I want to know what I would need to do to get consent to let from Swansea Building Society
- Please can you tell me the circumstances under which Swansea Building Society would turn down a consent to let application?
- I am enquiring as to whether there are any costs in obtaining consent to let on a leasehold property when I have a mortgage with Swansea Building Society
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Swansea Building Society consent to let Advice
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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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
Should the tenure of your property be 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 your covenants under 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.
If you do not keep up the payments on your mortgage with Swansea Building Society your property may be repossessed