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.
Britannia consent to let: Q and A’s
- I'm currently tied into a rental contract until November and am purchasing an apartment. Would my mortgage provider Britannia have an issue with consent to let until my tenancy ends and then moving in?
- We are a newly married couple and we have identified a house in Havering that we like and want to take out a mortgage with Britannia. The issue is that I am pregnant and might give birth any time soon as I am on the last few weeks of pregnancy. This wouldn't make it impossible for us to move straight away so we are thinking to keep living with my mum and dad for about six months. In the meantime, if we get this property, we can let it out. We just wondering how will that work out? Are we likely to obtain consent to let from Britannia
- I purchased a house in 2008 on shared ownership basis, I own half by way of bank loan and rent the remaining half. Last year I purchased a new property. I rented out my first property and moved to the new property. I secured consent to let from my mortgage company and I was under the assumption I had consent to let from the housing association. Earlier this week I had a letter from the housing association advising they had nothing on record to evidence I had their permission to sublet. What do I do now?
- Our present property in Merton has approximately £95K equity with a home loan with Britannia. It's a decent family house in a popular area and I think it would rent easily. We are possibly moving for my husband's work and were considering keeping this house on as a rental property - would we need to change the mortgage to a B2L product or can we get consent to let from Britannia?
- Iwould like to let our home and buy other. What do I need to supply Britannia to get consent to let?
- Was wondering how to precure a consent to let from Britannia who I have a mortgage with. There is a remaining balance of 57k. The value of flat is 110k. Property is in my name but my wife and I would like to purchase a studio flat in Waltham Forest we have seen together. How do we go about this?
- Me and my OH and I would like to lease out my home to be nearer to my daughter's uni and take care of my father. Do I need consent to let from my lender Britannia?
- Are you aware if there is usually a required LTV before Britannia will grant consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Britannia consent to let Info
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 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
Omitting to advise 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.
If you do not keep up the payments on your mortgage with Britannia your property may be repossessed