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Need professional advice for your consent to let with The Mortgage Lender Limited? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to The Mortgage Lender consent to lease
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I purchased a terraced property in 2007 for 175,500 with The Mortgage Lender. I got married to someone in the RAF so moved in to married quarters in Qatar and appreciate that I have to have to get consent to let from The Mortgage Lender. Will they grant permission?
- My wife and I live in a house where there exists some empty bedrooms. We are deliberating the idea of running an holiday rental style operation to let rooms out on a short term basis. Do you know this kind of thing permitted under The Mortgage Lender’s standard 'consent to let' process?
- Me and my brother jointly own a small apartment in Hounslow with a The Mortgage Lender mortgage. I want to vacate and purchase a house with my fiancee. How should I deal with sub-letting my room? Do I need consent to let from The Mortgage Lender. My brother will continue to reside in the apartment
- I am in the armed forces and planning to buy a property with a The Mortgage Lender mortgage. I would like to get consent to let this property to my sister. In years to come I would reside in the property myself when I leave the armed forces. Is this feasible?
- How much is it to get a consent to let from The Mortgage Lender on my residential property. Recently I have moved in with my husband and have a colleague renting from me.
- Just wanted to know what needs to be provided to The Mortgage Lender in order to get consent to let? I just finished a three year fixed mortgage and potentially moving to another flat with my girlfriend.
- I am currently refinancing and investigating the flexibility of certain lenders when it comes to consent to let. The Mortgage Lender is one of the mortgage companies I am considering. How accommodating are they are far as consent to let is concerned?
- I have a mortgage with The Mortgage Lender. I am considering moving out and renting out my flat. Do I need a consent to let ?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above The Mortgage Lender consent to let Questions and Answers
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 notify them could result in 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 violation of your covenants under 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 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 The Mortgage Lender your property may be repossessed