Need Help?
Need professional advice for your consent to let with Britannia? 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 Britannia consent to let
- Hi, I have a mortgage on a flat with Britannia and I am thinking about renting the property out. Could this be done without changing to a BTL or obtaining consent to let from Britannia?
- Resulting from a redundancy we are looking to move away from Haringey and our home, potentially to a job in Copenhagen but that means we will want to let the property but don't want the cancellation fees of existing Britannia mortgage which will be exorbitant.On what basis is 'consent to let' given by Britannia?
- My mortgage is with Britannia and wonder if I am duty bound to notify them if we no longer reside in the property. I believe that they could load the interest rate if we move and let it out but it's not very obvious what the change would be. If I decide to lease my house out and seek consent to let how would the payments increase?
- My property has had a mortgage against it with Britannia for the last nine years. Since then I've married and live in my husband’s home. At the moment the property is empty and have a choice to sell or let it out. Clearly this could be a long term agreement as the probability of moving back is low. What should I advise Britannia with a view to obtaining consent to let?
- Hi my partner and I own and live in 2 separate properties can I obtain consent to let from Britannia and let my studio flat out if I move in with her?
- I have a domestic mortgage with Britannia which is only 6 weeks in but I have been relocated with my job. How easy is it to get consent to let from Britannia for a mortgage that has only recently started and I have just purchased the property?
- Do Britannia offer consent to let? I am just considering this as an option if I move home in the coming months
- What are the changes that Britannia force me into a consent to let product whilst in a fixed rate product for 2 years?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Britannia consent to let Questions and Answers
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 terms are not adhered to 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 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 Britannia