Need Help?
Need professional advice for your consent to let with Halifax? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Halifax consent to let
- My fiance and I are currently one year into a year fixed rate mortgage with Halifax. We would like to acquire a larger second property in the coming months however would like to retain the first house and I was enquiring as to what reason we could put down on the consent to let form to get their approval
- I am interested to know how straightforward it would be to obtain consent to let with Halifax. I am considering fixed deals and intend to live there but want to know my options for example - if a job elsewhere was offered to me for a year abroad Please let me know how challenging it is in your experience with Halifax?
- My property recently got consent to let on a non-commercial homeloan with Halifax with aim of changing to a BTL rate when the fixed term ends within the next months, so I'm uncertain if this adds to the complexity of the issue! Any guidance gratefully appreciated.
- My husband and I are planning on buying a house, letting a couple of the bedrooms out to help cover the mortgage with Halifax, and then moving on in a few years time - at which point the property would be fully tenanted. How likely is it that Halifax would look at this unfavourably as I will have been given a owner-occupier mortgage rather than a B2L or consent to let? I've heard that the worst case scenario is that they can sue for mortgage fraud, is this correct?
- I would be interested to know what information I should include in a letter requesting consent to let my property in Barnet? I would like to send a request to my lender Halifax.
- My mortgage is currently with Halifax and am debating whether to sell or rent in the short term but don't have the equity for a buy to let mortgage at this time. What are my consent to let options currently?
- I would like advice as to how to go about gaining consent to let from Halifax and what, if any, fees I face.
- I may potentially need consent to let from Halifax in the future with work. I am just seeing what the options would be if this was the case. Are there any time restrictions on the length you can let out a property with consent?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Halifax 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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 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.
If you do not keep up the payments on your mortgage with Halifax your property may be repossessed