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.
Top Five Questions relating to Capital Home Loans consent to lease
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Due to problems with the area we live in (it's rough!), we are keen to relocate. As disposing of the property will result in early repayment charges to Capital Home Loans of £3500, we thought that it would be sensible to rent it out. So, we need to obtain a consent to let from Capital Home Loans only for less than a year. What can I do to get consent?
- I was just looking for guidance on whether I will be allowed to convert a homeowner mortgage with Capital Home Loans to a consent to let. It will be less than 70% loan to value and it would change from repayment to interest only?
- My husband phoned Capital Home Loans on Wednesday concerning consent to let. We are awaiting a returned call. We have placed an offer in on a ground floor flat that has been provisionally accepted so would like to know how likely it is that we will get consent to let with Capital Home Loans?
- I am currently looking to acquire my first property however, working as a consultant. I want to chose a mortgage provider that allows short term letting with a homeowner mortgage so that I could rent out the property for no more than six months with long periods of absence without being forced into a buy to let rate. Can you let me know how lenders would perceive this and in particular the approach taken by Capital Home Loans.
- I am looking at new mortgages and also thinking of renting the property in the years to come - Is there a cost with Capital Home Loans to obtain a consent to let and what are the criteria?
- Does my loan to value need to be at a certain ratio to allow me to apply for a consent to let from my mortgage lender Capital Home Loans. Will any consideration be given to the fact that I only took out the mortgage three months ago?
- I am currently refinancing and exploring the flexibility of certain lenders when it comes to consent to let. Capital Home Loans is one of the lenders I am thinking of going with. How accommodating are they are far as consent to let is concerned?
- I was wondering if you could help. I require consent to let from Capital Home Loans and would like to know if this option would be possible for me to move to as I have to move back home to look after my father
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to 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
Failure 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 lease may prohibit you from letting or require that you to have a license to do so from 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
Omitting to inform 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Capital Home Loans