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.
Halifax Consent to Lease Example Support Desk Enquires
- I was wondering if you could please give me some more detail on what the process is for applying for content to let, what do I need to do. I am thinking about taking a Halifax mortgage on a £140,000 house in six months time. The aim would be to hold the house as a second home but I would like to know what options are available to me to let the property in the future. If our circumstances were to change the property would either be sold or let out.
- I have a residential mortgage with Halifax and will be joining the Royal Fleet Auxiliary in August. This is a civilian manned fleet run by the MOD. I will be at sea four months on and three months in the UK. Whilst away I want to let out my property in Hillingdon and move in with my parents when on shore. If Halifax refuse are there mortgage companies that might be amenable?
- I'm looking to remortgage my studio flat, currently occupied with tenants under consent to let from Halifax, onto a BTL rate as we will not be moving back into it now since we have our family home. So, I'm assuming I need a specialist financial adviser for this and I am not really au fait with what is available in this area. Are you able to offer any advice on a good broker service specialising in BTL?
- Is it possible to switch a homeowner mortgage with Halifax to a consent to let. It will be less than 65% loan to value and it would change from capital and interest repayment to interest only?
- My marital situation has changed, and I would like to lease my place out - meaning consent to let- I have approx £175K loan with Halifax and currently 85k equity I need to side-step the redemption penalties.
- At the moment I do not have consent to let by Halifax but I would like to apply, I am looking at working away for eighteen months. But want to keep my home for when I come back - can you help?
- Do Halifax give consent to let? I am just considering this as an option if I move house in the coming months
- I was wondering if you are able to assist. I require consent to let from Halifax and was wondering if this option is available to me to switch to as I need 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 supplemental 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
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 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 violation of your covenants under the lease. This could potentially result in 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