Need Help?
Need professional advice for your consent to let with Britannia? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to Britannia consent to lease
-
Can a new mortgage be taken on a consent to let with Britannia?
- Much to my surprise I have just been presented with an excellent career opportunity for 6 months overseas. I do have sufficient money to cover the monthly Britannia mortgage however the buildings insurance stipulates continuous residency in order to be valid. Last Christmas the roof was damaged but repaired. Should there be any problems through the winter months I would find it hard to afford remedial works. Will I qualify for consent to let via Britannia for a limited period?
- Am I required to inform Britannia of my intention to rent my property out as a holiday let for twelve weeks. Can you shed any light on this? I am seeking independent advice on the insurance, legal and tax side of things .
- I am may soon need to apply for consent to let from my existing mortgage provider Britannia. A friend of mine said that he was granted ‘consent to let’ confirmation from a different lender where conditions attached to the consent referred to an AST. Can you explain what this is?
- I'd like to know if Britannia are likely to give consent to us letting out our flat in Hackney
- It is looking as though I may need to move to Boston for two years, I have a property with a Britannia mortgage. Do I need to obtain consent to let? Will they grant it?
- Good-day, what documents or paperwork would Britannia require for a consent to let letter?
- Soon to remortgage my flat but I will potentially moving out in the next year and would be looking to lease it out. Do you think I can get buy to let or consent to let from Britannia?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Britannia 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
One thing to remember when arranging a consent to let mortgage with Britannia 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 standard 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 violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Britannia