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.
Questions and Answers: Britannia consent to let
- My brother and I are joint proprietors of a flat in Harrow with a Britannia mortgage. I want to vacate and purchase a house with my fiancee. How would I deal with finding a tenant for my room? Would I require consent to let from Britannia. My brother will stay in the property
- I applied for consent but I did not get it as I did a remortgage in June but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some additional criteria that will not be ok. As a backup plan I can remortgage with Britannia but will they give me consent straight away?
- I wish to be informed of what the policy is for Britannia for consent to let. I have come across various suggestions in relation to fees and rates. I need to move area for work but can not sell the house due to a depressed market.
- Me and my fiance are about to buy a house together. Plan is for me to get consent to let my property from Britannia. Thinking a little down the line however - when my 2 year fixed period expires - how would it work if I wanted to remortgage then?
- Situation: I am moving to Belgium for work. Potentially for a number of years. Nevertheless I will be on a 3 month test period .I'm wanting to know the criteria for consent to let from Britannia and any costs involved
- Is consent to let a less costly way of renting out your property? Isn't this a loophole for some people to exploit?
- Me and my husband have a granny flat attached to our property. Do we need consent to let this from Britannia? If so, what is the process if I would like to switch my mortgage to consent to let?
- Soon to remortgage my house but will likely be moving out in the near future and would be looking to let it out. Is it possible to get buy to let or consent to let from Britannia?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to 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
Where 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 inform 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
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 restrictions are not strictly observed you may be in breach of 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 record their consent in writing.
If you do not keep up the payments on your mortgage with Britannia your property may be repossessed