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Need professional advice for your consent to let with Holmesdale 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 Holmesdale Building Society consent to lease
- me and my wife have just sorted our rates for another fixed period with Holmesdale Building Society. Some weeks later, I attended an interview and basically I accepted the job offer in Harrow. I'm going to rent a two bedroom flat for the family in Hounslow as we don't want to sell the house whist there is a possibility that we come back within a couple of years.... We really have no idea how things will work out. We called Holmesdale Building Society but we would like also your take on the situation. How is it to obtain consent to let in that case as we just got a fixed 5 years rate we would not want to lose this rate.
- Is it the case that the letting agents we rented through owe us a a legal obligation to have checked that the landlord had consent to let from Holmesdale Building Society?
- I am an existing Holmesdale Building Society mortgage client seeking consent to let on my present property. We would like to purchase near where we are based with the Royal Marines,... but we may have to move.
- I have been leasing my flat to a tenant for three years but not on a BTL mortgage as I thought that you only required a buy to let if you had more than one property. In trying to acquire a second property, I found that I should have obtained consent to let all along from my lender Holmesdale Building Society. I'm wondering whether I can now seek consent to let from Holmesdale Building Society?
- I will have to move to Philadelphia for a couple of years, I have a property with a Holmesdale Building Society mortgage. Do I need to obtain consent to let? Will they be obliging?
- Were I to let my house out with consent to let from Holmesdale Building Society will will theybump up the interest rate? I am presently on a fixed rate for two years.
- I have a mortgage with Holmesdale Building Society at the moment and just enquiring about the processes of getting a 'consent to let'
- I'm considering a remortgage offer with Holmesdale Building Society and it's a strong possibility that I will require consent to let at some point in 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.
Important warnings to consider in further to the above Holmesdale Building Society consent to let Info
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
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 conditions are not complied with you may be in breach of 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Holmesdale Building Society