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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.
Questions and Answers: Harpenden Building Society consent to let
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My husband and I purchased a garden apartment in 2011 for 230,00 with Harpenden Building Society. My husband’s job requires him to relocate to Qatar and realise that I need to obtain consent to let from Harpenden Building Society. Will they give permission?
- I have a residential property but I am moving with my girlfriend to a different town for career reasons and moreover near her university. Im keen keep my property but not sure I can afford a BTL rate. It will only be temporary -three years until my girlfriend completes her degree and I can sell, or move elsewhere. My mortgage is with Harpenden Building Society. Do you think they will grant consent to let?
- We have a flat in Greenwich which we purchased off-plan approximately twelve years ago. As the family is growing we are looking for more space. We've found a house in Tower Hamlets that we wish to buy and want to keep the flat as an investment to rent out. The mortgage is with Harpenden Building Society and we've found a tenant who will pay rent which more than covers the monthly mortgage payment. The question is, can we keep the repayment mortgage with Harpenden Building Society so we effectively paying off our mortgage on the flat or must we to swap to a buy-to-let mortgage?
- I took a home loan out on a garden flat in August however I will be working outside of commuting distance of Sutton for the foreseeable future but hope to find work closer in the long term. Given that I recently acquired the property I will lose money if I sell and do plan to return to Sutton so would like to keep it. How difficult is it to get consent to let from Harpenden Building Society and what is the procedure ?
- I am looking to Harpenden Building Society to grant consent to let out my home in Camden. I am about to commence a PhD opportunity in Maastricht University, Netherlands
- How much of my mortgage allowance will be made available to borrow if I change my mortgage to a consent to let with Harpenden Building Society?
- Am I required to wait for consent to let to be given on my current domestic mortgage with Harpenden Building Society before applying for a resi mortgage on a new property?
- I have fixed rate mortgage with Harpenden Building Society. I may have to lease out my flat due to necessity. If I seek consent to let, will I have to pay a lot more interest?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Harpenden Building Society 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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 conditions are not complied with you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Harpenden Building Society your property may be repossessed