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Need professional advice for your consent to let with Habito? 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: Habito consent to let
- What is the procedures for obtaining consent to let from Habito? What evidence do they require? is there a fee to pay? How long the consent is valid for? Do I need to renew it every year? What if I obtain a consent but decide to sell the property rather than let out the property?
- In the coming months I would like to move home and I am enquiring if I can get consent to let on my property then get a mortgage approval for the new house so I can effectively bid without being part of a chain and then rent my property out when I move. Will my lender Habito grant consent to let for 12 months if they know I am looking to purchase a further property or only if I am relocating temporarily for career reasons?
- How long must you live in a property before consent to let with Habito would be given? I purchased my flat with a Habito mortgage 9months ago.
- My partner and I would like to know what the policy is for Habito for consent to let. I have heard various suggestions in relation to fees and rates. I need to relocate for work but can not sell the property due to a depressed market.
- I have split up with my ex and we have each moved into our parents house and plan to divorce. What do I have to do to get Habito to give consent to let the property out to tenants?
- I would like to rent out my home. Do I simply mail a letter to Habito asking for consent to let out the home?
- I wishing to obtain consent to let for my flat as I am moving out for six months currently fixed Habito mortgage with three years which is due on June next year.
- I am looking at taking a job overseas and have been advised that I need to let Habito know so my mortgage is under consent to let? Please could you clarify the best way deal with this?
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Information to consider in supporting the above Habito consent to let Advice
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
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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of your covenants under 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 record their consent in writing.
If you do not keep up the payments on your mortgage with Habito your property may be repossessed