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Need professional advice for your consent to let with Handelsbanken? 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: Handelsbanken consent to let
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Handelsbanken have just granted me consent to let. After some effort, Handelsbanken have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. What is that?
- My niece is going to work overseas for twelve months and wants to rent her property out. She has a Handelsbanken fixed rate mortgage on repayment and wants consent to let the property as well as switch to interest only. What does she need to do?
- My OH and I are planning on acquiring a property, letting a couple of the bedrooms out in order to cover the loan with Handelsbanken, and then moving on in two or three years - at which point the property would be fully let. How likely is it that Handelsbanken would frown upon this as I will have been given a non-commercial loan as opposed to a B2L or consent to let? I've heard that the worst possible outcome is that they can repossess the property, is this true?
- I have a mortgage with a friend on our house which is up for renewal 1st July. I am having to relocate to Bristol with work in next month. What are the chances of being able to transfer for a consent to let mortgage with Handelsbanken?
- I would like to let my house which is on a standard variable rate mortgage with Handelsbanken. What do Handelsbanken require for me to do to get consent to let?
- I have Handelsbanken mortgage and am considering leasing out the property. I am lead to believe that I would require consent to let to do this...is that true ?
- How do I go about procuring consent to let from Handelsbanken? Are there certain policies like you have to live in the property for over 6 or 12 months before its issued?
- My partner and I have a mortgage with Handelsbanken on our one bedroom apartment in Barnet. We are planning to buy a new house and move in there. How do I move our current mortgage on to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Handelsbanken 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 restrictions are not strictly observed you may be in breach 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 commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Handelsbanken