Need Help?
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.
Sample questions relating to Capital Home Loans consent to let
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Bottom line - if worst comes to the worst what action Capital Home Loans can take if I have Sublet my flat without consent to let?
- We are currently twelve months into a year fixed rate mortgage with Capital Home Loans. Ideally we would like to buy a larger 2nd property in the coming months however would prefer to retain the first property and I was enquiring as to what reason we could put down on the consent to let form to get their approval
- me and my wife recently sorted our rates for another fixed five years with Capital Home Loans. Subsequently, I went to an interview and basically I accepted the job offer in Ealing. I'm going to rent a small flat for me and my family in Merton 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 don't know how things will go. We have contacted Capital Home Loans but we would appreciate your point of view please. How is it to get consent to let in that case as we just got a fixed 5 years rate we really don't want to swap this.
- I have a self contained flat attached to my house that my mum has vacated. As the main house is large I was thinking to move into the annex and let the rest out. This is also due to change in my personal situation. Would I require consent to let from Capital Home Loans?
- We are having to relocate to Australia for a couple of years for my job but I don't want to convert the mortgage to BTL as I want to move back into it when I return. Do you know if Capital Home Loans charges additional interest? Is there any way around this?
- Do you know whether Capital Home Loans will accept rental income on consent to let for affordability purposes or does it need to be on a buy to let ? Would Capital Home Loans let me raise capital based on the rental income ?
- Last month I purchased a property with 10% deposit for personal reasons. A mortgage was taken with Capital Home Loans. But my circumstances have now changed. I am being transferred abroad. Am I able to obtain consent to let from Capital Home Loans and put the house up for rent?
- I currently have a residential mortgage with Capital Home Loans and plan on letting due to work being based in Manchester. In seeking consent to let from Capital Home Loans do I run the risk of them forcing me to change deal to BTL
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Capital Home Loans consent to let Advice
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit 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 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 Capital Home Loans your property may be repossessed