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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.
Questions and Answers: HSBC consent to let
- A friend of mine has rented her house off the same landlady for nearly 18 months. Over the course of the last twelve months my friend has received letters from HSBC (she hasn't opened them-it is clear from the envelope). At first she forwarded them to the landlady's address. I was a bit suspicious as none of her landlord’s mail was supposed to be going there. So I went to my friends house and called HSBC on her behalf. The gentleman I called at HSBC had a long list of queries, the landlady's details, information relating to the tenant and then said they were going to look into whether she had the right mortgage and if she didn't it was an offence without consent to let. What does this mean for my friend?
- We have just sorted our rates for another fixed period with HSBC. Subsequently, I attended an interview and basically I accepted the job offer in Bromley. I'm going to rent a two bedroom flat for me and my family in Hounslow as we don't want to sell the house and moreover we might come back within a couple of years.... We really have no idea how things will work out. We called HSBC but we would appreciate your point of view please. 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.
- I'm planning to remortgage my 2 bed flat, currently let out with consent to let from HSBC, onto a BTL rate as we are unlikely to be moving back into it now since we have our family home. So, I'm assuming I need a specialist broker for this and I am not really au fait with what is on offer in this area. Are you able to recommend an efficient broker service specialising in BTL?
- We are planning to lease out my property for 12 months from 6th September next year. Is there conventional wording for a letter I can use to send to HSBC to request consent to let.
- I already have a mortgage with HSBC, but I will soon to need move out for approximately 12 months as we need to be closer to my partner's mum and dad. Will HSBC issue consent to let?
- There is a chance of me going to Dubai for twelve months with work. Planning on taking the husband with me and hoping to rent our UK home in the meantime on a temp basis to make things more cost effective. I was just enquiring if there any fees for obtaining consent to let
- I want to apply for consent to let from my lender HSBC to rent out my flat. This is due to me relocating. Can you tell me if HSBC give consent to let in these circumstances?
- Me and my sister and I would like to obtain consent to let on a house where we have a mortgage with HSBC. If issued, how long would consent be given for? In seeking consent to let from HSBC are we running the risk of them forcing us to change deal to BTL
Find out more about how flying freeholds can affect the marketability of a property.
Information 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
If 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 notify them may result in your insurance becoming null and void. 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 restrictions are not strictly observed you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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 HSBC your property may be repossessed