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 Lease Example Support Desk Enquires
- I need to see if I can obtain consent to let on my current home. I have a mortgage with Britannia but my situation has changed. I'm looking to move in with my partner and son who have a house and more room than my small property. I don't think I can qualify for a buy to let loan as I don't have the funds for a deposit nor do I earn in excess of £25000 per annum.
- After fifteen years in London, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to renew our mortgage with Britannia. In the relocation destination, we are be looking at a 3-bed property around the £250k mark. Ideally, we would like to retain my existing flat. Could I ask for Consent to Let from the proposed new lender Britannia. If granted what are the likely requirements?
- Please explain "consent to let" to me? I live in a studio flat and its in good condition. It is on the market and I can't find a buyer. This is probably due to an ongoing feud with the family next door. I have had to put this on the disclosure sheet. Mortgage is with Britannia on a fixed rate. It has been suggested to me that I should obtain consent to let by Britannia and lease the property to tenants.
- Since we are relocating and failing to find a buyer for our property, we are thinking about letting it out. Is it necessary to disclose this to Britannia? I am concerned that Britannia might change our terms. I was hoping that if I continued paying on time it shouldn't be an issue, but am now worried about insurance implications if I have let my property out on the sly. Any feedback?
- I currently have a mortgage with Britannia, but I will soon to need move out for around 12 months as we need to be closer to my partner's mum and dad. Will Britannia grant consent to let?
- I have a question I'd like to ask...if consent to let is given by Britannia would it usually be subject to a time limit, such as one year?
- Do you have the address to which a Consent to Let request to be sent for Britannia? Sorry about bothering you with this query.
- I'm interested to find out more regarding consent to let from Britannia. Would a valid reason be issues with neighbours and the house is too to small for me?
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 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
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 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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Britannia