Need Help?
Need professional advice for your consent to let with Capital Home Loans? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Capital Home Loans consent to let
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I have been letting out my flat with "consent to let" from Capital Home Loans on a homeowner mortgage for the past two years. Capital Home Loans have now advised that they are withdrawing their consent to let unless we switch to one of their "buy to let" mortgages.
- My husband and I have a fixed rate mortgage with Capital Home Loans. This has been in place since 2005. We are considering leasing out our house and renting in a village close to our daughter’s school until we find the right home to buy. Do Capital Home Loans ordinarily give consent to let and if so, are there any financial consequences?
- My brother and I are joint proprietors of a small apartment in Brent with a Capital Home Loans mortgage. I am looking to leave and buy a new property with my fiancee. How should I deal with finding a tenant for my room? Would I require consent to let from Capital Home Loans. My brother will continue to reside in the property
- I rented my house out for three years from 2009-2012 while living Amsterdam. I have a letter dated May 2010 from my lender granting consent to let. In the letter it explicitly states that the consent to let is valid for "the remaining term of the mortgage". I have not refinanced since the letter was sent. I now plan to move house and rent out my existing house. However, my financial advisor has suggested that the 2010 consent to let letter may not be sufficient for the new lender Capital Home Loans for the property I wish to purchase.Your view would be appreciated
- At the moment I do not have consent to let from Capital Home Loans but I would like to change to one, I am looking at working away for a couple of years. But want to keep my property for my return - can you assist?
- My OH is considering purchasing a new property in Hillingdon and is on to a good deal as it needs renovating. We want to rent our current property for 2 years and then return. Is there anything in the Ts and Cs of my Capital Home Loans mortgage allowing me to rent it out or do I require specific consent to let?
- I am interested in more information concerning consent to let home loans, potentially transferring our existing mortgage with Capital Home Loans across to a consent to let one.
- I was wondering if you can help. I require consent to let from Capital Home Loans and was wondering if this option is available to me to switch to as I have to move back home to take care of my mum
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Capital Home Loans consent to let information
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
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Capital Home Loans