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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.
Recently asked questions relating to Capital Home Loans consent to lease
- I need to change my residential mortgage with Capital Home Loans to a consent to let and looking for some advice please... I purchased my first home in Edgware fiveyears ago. After a career opportunity I moved to Belfast, and a few months ago got a residential joint-mortgage with my boyfriend. I am inclined to stay with Capital Home Loans and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if Capital Home Loans refuse what lenders can I approach.
- I have been naive in not informing Capital Home Loans that I’m letting my flat out. I would like to do things properly and request consent to let. If Capital Home Loans says yes, how would you rate the chances of them learning that I’ve already been renting it without consent?
- Resulting from a redundancy we are looking to move away from Merton and our flat, potentially to a job in Norway but that means we will want to let the property but don't want the penalty charge of existing Capital Home Loans mortgage which will be high.On what basis is 'consent to let' issued by Capital Home Loans?
- Last month I got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our maisonette in Barnet we currently live in to rent out. Mortgage on the flat is with Capital Home Loans. I don't want to put myself in a situation with two residential properties and then be refused consent to let.
- I previously took a mortgage with Capital Home Loans, but I have to get consent to let for around 12 months as my partner is unwell and is struggling to balance work with the hectic environment we are living in. We want to take a break for a year (by living near her mother and stepfather and getting their help) in a greener less intense area of Bristol.
- I'm wanting to know how to go about getting consent to let from Capital Home Loans and any costs to be incurred. I've moved in with my partner and have a colleague wanting to let out the property.
- I currently have a mortgage with Capital Home Loans that I would like to transfer to a consent to let as we have found another property we are looking to buy. How do I go about applying for consent to let from Capital Home Loans?
- Can I get an interest only mortgage with consent to let when my current Capital Home Loans deal runs out April 17?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Capital Home Loans consent to let Questions and Answers
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
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 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 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
Neglecting to inform 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