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.
Top Five Questions relating to Britannia consent to lease
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My wife and I have a Britannia mortgage and are are not in arrears, both employed etc. Can you tell me how much the fees are and if Britannia are likely to give us consent to let without changing to a new mortgage product?
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Britannia have just granted me consent to let. After some effort, Britannia have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. Can you explain what this is?
- I obtained consent to let from Britannia three yrs ago but never used it and subsequently remortgaged to a new bank. I recently applied for consent to let. I was informed that it would be forthcoming since I met the criteria. However I received a letter informing me that I must provide evidence from the DWP evidencing that that are aware of my current situation before they can provide authorisation. They said this is policy but I have not been able to find these conditions on their site. I did complain about the insinuation that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £25 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to continue with them
- I have a Britannia mortgage and have been letting out the property omitting to get consent to let, making me in contravention of my mortgage conditions. I think I have come onto their radar that I am not residing there. Is my only option is to dispose of the apartment prior to being repossessed?
- Can you explain the process for gaining consent to let by Britannia? Is there certain requirements for example you have to have owned the property for over 9 or 12 months before its given?
- I am trying to find out if Britannia will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
- I recently bought a property with 10% deposit for personal reasons. A homeloan was taken with Britannia. However my circumstances have now changed. I am being transferred abroad. Am I able to obtain consent to let from Britannia and put the house up to let?
- I have a mortgage with Britannia taken 3 months ago where I moved from another lender. Can I now rent my property with consent to let from Britannia as I am looking to purchase another property.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Britannia consent to let information
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
If 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 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
Failure to inform 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.
If you do not keep up the payments on your mortgage with Britannia your property may be repossessed