Need Help?
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.
Sample questions relating to The Mortgage Lender consent to let
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I intend to let out my flat to some tenants who have asked me for sight of my ‘consent to let’ from The Mortgage Lender, my mortgage lender. Is this standard practice? My letting agent cannot offer an explanation, can you?
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I plan to get in touch with The Mortgage Lender for consent to let out my house in The Mortgage Lender. However I currently have the property for sale but there without a sniff of interest and forking out for a full mortgage, council tax and insurance on an empty house is a financial drain. What approach would The Mortgage Lendertake if I market the property?
- My query does not relate to consent to let, I was hoping that you have an contact details for a dedicated The Mortgage Lender team who processes consent to let applications. The Mortgage Lender has a first charge over my property.
- I have been granted consent to let from The Mortgage Lender for some time now and they now wish to speak to me and I suspect their plan may be to rid themselves of me. Can you help?
- How much is it to get a consent to let from The Mortgage Lender on my residential property. Last week I moved in with my husband and have a friend renting from me.
- Is there leeway in the accepted equity amount before switching from a current The Mortgage Lender mortgage to a consent to let?
- Assuming that I was successful in obtaining consent to let from The Mortgage Lender, can I sell during the consent period? Is it possible that I would incur any penalties?
- How likely is it that The Mortgage Lender force me into a consent to let product whilst in a fixed rate product for twenty four months?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be 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
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
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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