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Need professional advice for your consent to let with Harpenden Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to Harpenden Building Society consent to lease
- I have a friend who is thinking about renting their house out and moving in with partner. The property is in Croydon and has a £80k mortgage with Harpenden Building Society. What would she need to do to get consent to let if she decides to proceed.
- I will shortly be relocating to Dubai. Rather than sell my house, I would like to let it out, just in case things don’t pan out. My current mortgage is with Harpenden Building Society. If I applied for a remortgage would a new provider consider this as me seeking to avoid a Buy To Let mortgage, of which there is very little availability for 80% LTV, and therefore turn down my request for Consent to Let?
- I am purchasing a ground floor flat in Hillingdon. My intention is to reside there for a year, and subsequently move into a bigger home. As opposed to selling the prior home I'd like to let it out so that it becomes an investment. Do you know if Harpenden Building Society would issue consent to let after half a year?
- My twin and his girlfriend currently lodge with me at my apartment. Next Summer I would like to move out of the flat and in with my OH. How likely is it that I will be able to get consent to let from Harpenden Building Society after only having the mortgage for less than half a year?
- What are the circumstances under which Harpenden Building Society would decline a request for consent to let?
- I would like to rent out my flat for three years max. How do I go about getting consent to let from Harpenden Building Society who I have a mortgage with?
- Does my loan to value need to be at a certain level to allow me to apply for a consent to let from my mortgage provider Harpenden Building Society. Does it make a difference that I only took out the mortgage three months ago?
- We are mulling over a remortgage offer with Harpenden Building Society and it's likely I will end up asking for consent to let during the fixed period. Are there any fees I should be aware of?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above Harpenden Building Society consent to let information
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
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 result in 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 lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Harpenden Building Society