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.
Sample questions relating to Halifax consent to let
- I have exchanged contracts for an off plan property in which I was going to live in, but my employer has presented me with the opportunity to work overseas for three years, can I let the new property with consent to let from Halifax.
- I have a Halifax mortgage and have been renting my flat without consent to let, making me in breach of my mortgage Ts and C’s. I suspect that they have sussed that I am not living there. Is my best option is to dispose of the property before repossession?
- After having retired in 2014 I acquired a “retirement home” for my wife and myself to live in. Our intention is to let our current property to our nephew and I have therefore applied to Halifax for consent to let. I was just seeking a general view on whether Halifax currently allows it?
- Am I required to inform Halifax of my plan to rent a room out to a lodger. I have two spare rooms that could be used by lodgers and I was thinking that as the occupancy remains in keeping with that of the 'family' use of the property it might not require consent to let. Can you help clarify? I am taking separate advice on the insurance, legal and tax ramifications.
- I don't currently have consent to let from Halifax but I would like to apply, An opportunity has arisen which might involve me working away for two years. But want to keep my house for when I come back - are you able to assist?
- My wife and I are considering a remortgage and also exploring the possibility of renting the property in the future - Is there a charge with Halifax to procure consent to let and what are the requirements?
- Me and my husband want to let our house out and use the rental income to cover the rent on a house in Havering. How likely are we to be given consent to let by Halifax without being forced onto a BTL product.
- Does my loan to value need to be at a certain ratio to allow me to apply for a consent to let from my mortgage provider Halifax. Does it make a difference that I only took out the mortgage two months ago?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Halifax 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
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 may trigger your insurance becoming invalid. 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 to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform 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.
If you do not keep up the payments on your mortgage with Halifax your property may be repossessed