Need Help?
Need professional advice for your consent to let with Hampden & Co plc? 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: Hampden consent to let
-
Hampden have just granted me consent to let. After some effort, Hampden have issued me with ‘consent to let’ confirmation . The conditions attached to the consent refer to an assured shorthold tenancy. Can you explain what this is?
- My fiance and I are presently twelve months into a year fixed rate mortgage with Hampden. Ideally we would like to purchase a larger second property in the next year however would prefer to retain the first home and I was wondering what reason we could put down on the consent to let form to get their approval
- Resulting from a redundancy we are looking to move away from Greenwich and our apartment, potentially to a job in Copenhagen but that means we will want to let the property but don't want the penalty fee of existing Hampden mortgage which will be expensive.What are acceptable reasons for obtaining consent to let on our property?
- I am planning to rent out my flat for a year from 15th August next year. Is there a standard format for a letter I can use to write to Hampden to seek consent to let.
- This is not a question specific to Hampden but do mortgage companies generally supply the information I need for my Buy to Let or Consent to Let self-assessment tax submissions?
- I am looking to Hampden to grant consent to let out my home in Camden. I am moving to Norway for Eight months on a secondment.
- We are about to switch mortgage provider to Hampden for a fixed rate but the likelihood is that I will need to rent the house out for just under 12 months. Do Hampden consent to let on fixed rate home loans and if so, what are the procedures.
- Would I be able to remortgage to Hampden from my existing provider, with a consent to let or do I need a let to buy homeloan, and if so what are the LTV's?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Hampden consent to let information
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 could result in your insurance becoming null and void. 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 terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them commencing legal proceedings 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 Hampden