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.
Capital Home Loans Consent to Lease Example Support Desk Enquires
- A couple of years ago I was granted consent to let from my current lender which is about to run out. I have since been traveling and had my first child. I'm not earning enough just now to pay the mortgage on my own. My lender has advised me that I can't extend my consent to let and if I continue renting out I will be in action would be taken for breaching my mortgage contract. As a result of my low income I it is likely that I will be refused to transfer to a BTL product. One option I am considering remortgaging to Capital Home Loans. Are they likely to give consent to let from the outset?
- Your view would be appreciated as to whether consent to let from Capital Home Loans is the right strategy for me. I purchased my house nine months ago by porting a Capital Home Loans mortgage product. My fixed rate finished five months ago I'm thinking about moving in with a new partner. I don't want to sell my house yet because I have no idea as to whether the new move will work out. Would it be likely that Capital Home Loans would grant a consent to let based on me letting out my property on a short hold tenancy for 1-2 years and then I either commit to a buy to let product or sell it?
- At the moment I am looking to purchase my first property however, I am self employed. I want to chose a mortgage provider that allows short term letting with a domestic mortgage so that I could let the property for 6-9 months with long periods of absence without being required to switch to a buy to let mortgage. Are you able to advise me on how lenders would view this and in particular the approach taken by Capital Home Loans.
- Me and my girlfriend are soon to purchase a place together. Idea is for me to get consent to let my flat from Capital Home Loans. Thinking further ahead - when my 2 year fixed comes to an end - how would it work if I wanted to refinance my flat?
- I would be interested to know whether Capital Home Loans would have archive records as to whether consent to let was granted for a specific property?
- I am relocating for work for up to a year... I was wondering if I was able to get from Capital Home Loans consent to let the property out while overseas as I am reluctant to leave it vacant for that period
- What, if any, income criteria do Capital Home Loans set for consent to let on an existing homeowner mortgage?
- I'm looking to find out more about consent to let from Capital Home Loans. Would a valid reason be issues with neighbours and the house is too to small for me?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Capital Home Loans consent to let information
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
Where 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 inform them could result in your insurance becoming invalid. 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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of your covenants under 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 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