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Need professional advice for your consent to let with HSBC Bank plc? 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 HSBC consent to lease
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Exciting times as my wife and I plan to return to Germanyin Month, initially temporarily but it could be longer term. I have contacted HSBC to obtain consent to let out our property (we have already found tenants). The mortgage has been in place with HSBC for three years and the account is up to date with no current arrears. HSBC inform me, that even if they do agree, that this will be a temporary arrangement for a single year. What happens after one year?
- Last month I was offered a job abroad and wondering if it's a good idea letting my property out. Will HSBC allow me to change mortgage or issue me with consent to let? Should it not be available I will have to think about whether it's worth taking the job. I wouldn't mind paying an increased amount as I intend to come back and live in my home after twenty four months. I'm not doing it to profit. Just really like my house and wish to return to it one day.
- After retiring last year I purchased a “retirement home” for my wife and myself to live in. Our intention is to let our current property to our grandson and I have therefore applied to HSBC for consent to let. What are the chances of this being issued?
- I have had a HSBC mortgage for just over eight months but I discovered this morning that I will soon be made redundant. I would like advice on obtaining consent to let by HSBC
- My partner and I invested in buying a property in London with HSBC and am moving to rent a property in Oxford due to work. Is consent to let from HSBCavailable? I only want to lease out the flat for half a year before selling.
- We have tenants ready to move in and I have mortgage offer from HSBC on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- We have a mortgage with HSBC and would be thinking about buying another main residence and then subsequently leasing our current house out. Do I need consent to let from HSBC?
- Will HSBC grant consent to let my house? I currently have a homeowner mortgage, never had arrears and have been with HSBC for just over five years now. What costs am I likely to incur
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above HSBC 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
One thing to remember when arranging a consent to let mortgage with HSBC is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 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 your covenants under the lease. This could potentially result in 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 record their consent in writing.
If you do not keep up the payments on your mortgage with HSBC your property may be repossessed