Need Help?
Need professional advice for your consent to let with Gen H? 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 Gen H consent to let
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I was thinking of renting out my flat and generate some income whilst on vacation. It will only likely be for a month. Is advanced consent to let from Gen H required?
- I have just been presented with an excellent career opportunity for 9 months in Denmark. I have enough savings to pay the monthly Gen H mortgage yet the block insurance stipulates that the property must be occupied in order to be valid. Last December the roof suffered storm damage but was repaired. Should there be any problems during the winter months I would find it hard to afford remedial works. Would I be eligible for consent to let via Gen H for a limited period?
- The plan is to move in with my partner and I have let my property out to 2 tenants on a twelve month AST. The application for consent to let from Gen H is in hand but what if they decline. I can’t rescind on my contract in terms of not renting the students as they have all signed up. On the flip-side Gen H could sue me for contravention of contract i.e. renting it out in the absence of consent to let.
- I need to decide what to do ie let or sell. The property has a mortgage against it with Gen H (with quite a bit of equity). I want to buy and live in a second house but keep my old house and rent it out. What is the best way to fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- I'm thinking about letting my property on a domestic mortgage with Gen H what is the procedure for getting consent to let?
- Hi my partner and I own and live in 2 separate properties can I obtain consent to let from Gen H and let my garden flat out if I move in with her?
- What information should I include in a letter seeking consent to let my house in Sutton? I would like to send a request to my mortgage provider Gen H.
- I am considering moving in with my partner but do not want to to sell my place. What is the process for requesting consent to let from Gen H, and what are the chances that this will be given?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Gen H consent to let Info
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
One thing to remember when arranging a consent to let mortgage with Gen H is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. 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 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 inform 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 Gen H