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Need professional advice for your consent to let with Capital Home Loans? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Capital Home Loans consent to lease
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A friend of mine suggested that this summer I rent out my home and make money from it whilst on vacation. I only plan to be away for four weeks. Will consent to let be needed from Capital Home Loans?
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Finding myself in an impossible situation with a Consent to Let home loan. In response to requesting consent to let my bank has requested evidence of a signed tenancy agreement before they will grant consent. If I get a signed tenancy agreement would I not be violating the lender’s terms and conditions?
- I have just come off the phone to Capital Home Loans and they tell me that they discovered that I have been letting out the garden flat despite having a domestic mortgage. I had to move two years ago for childcare reasons, couldn't sell and was left with little choice to rent out the property. Do you know what the consequences might be for me not obtaining consent to let?
- What is the maximum period of time allowable to Capital Home Loans that I would be able to let my property without having to change mortgage or sell my house? In short, my partner has asked me to move in with him and I really don't want to sell my house. I would like the comfort of knowing I still own my own property.
- A work promotions now necessitates that Ibe in different places a lot and in the circumstances I wish to get to grips with the procedure for applying for consent to let with Capital Home Loans
- I am thinking about moving in with my girlfriend but would rather not to sell my flat. What is the process for getting consent to let from Capital Home Loans, and how likely is it that this will be issued?
- My husband and I would like to obtain consent to let on a house where we have a mortgage with Capital Home Loans. If granted, how long would consent be given for? In seeking consent to let from Capital Home Loans are we running the risk of them forcing us to change deal to B2L
- Me and my husband spoken to someone at Capital Home Loans about switching our current homeloan to consent to let (the current two year fix comes to an end in june next year). Can I just confirm that I need to formally put the request in writing explaining our change in circumstance to Capital Home Loans? Where do I need to send the letter to?
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General Advice to read in supplemental the above Capital Home Loans consent to let Info
Tax and Legal
There are numerous potential 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 breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
If you do not keep up the payments on your mortgage with Capital Home Loans your property may be repossessed