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.
Frequently asked questions relating to Britannia consent to lease
- I have a friend who is talking about leasing their house out and moving in with partner. The property is in Sutton and has a £80k mortgage with Britannia. What would she need to do to get consent to let if she decides to move forward.
- My brother and his partner currently lodge with me at my apartment. Next Summer I would like to move out of the property and in with my OH. How likely is it that I will be able to get consent to let from Britannia after only having the mortgage for less than half a year?
- My fiance and I might have to let out her apartment, and I have a query regarding obtaining permission to do so. I know I need to inform Britannia and get a consent to let or move across to a BTL mortgage. Given that the property is leasehold do we have to get consent to let from the residents association?
- My wife and I would like to know what the criteria is for Britannia for consent to let. I have come across different suggestions in relation to fees and rates. I need to relocate for career reasons but I don't want to sell the property due to a depressed market.
- I would like to let out my home. Do I simply post a letter to Britannia asking for consent to let out the house?
- My two year fixed rate with Britannia is due to come to an end shortly and I will switch on to the standard variable rate. I would like to know whether consent to let from Britannia is likely, if there are fees, and if there conditions?
- Prospective tenants are about to rent my property and I have mortgage offer from Britannia on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- What are the implication if a borrower has already let the property for some years as an HMO and now wish to legalise the situation with Britannia by getting consent to let ? (work on the basis that Britannia had already granted a homeowner mortgage on it some time ago)
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Britannia 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed 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 taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Britannia