Need Help?
Need professional advice for your consent to let with Gen H? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Gen H Consent to Lease Example Support Desk Enquires
- In June 2013 I was issued consent to let from my existing lender which is about to expire. Since I took this out to travel and start a family. My part time salary is not sufficient 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 don't think the buy to let will be approved. One option I am considering remortgaging to Gen H. Are they likely to give consent to let from commencement of the mortgage?
- Can you advise if an ERC would count as an allowable expense to be offset against tax for a BTL property? About a year ago I was going to apply for consent to let from Gen H on my flat but I ended up switching mortgage provider to get a BTL mortgage. I had to pay an early redemption charge as I was still in a fixed rate period.
- We recently sorted our rates for another fixed five years with Gen H. However, I attended an interview and basically I accepted the job offer in Waltham Forest. I'm going to rent a one bed flat for the family in Ealing as we don't wish to sell the house and moreover we might come back before two years.... We really don't know whether it will go. We have contacted Gen H but we would like also your point of view please. Is it possible to receive consent to let in that case as we just got a fixed 5 years rate we would not want to change.
- I have a two year fixed rate mortgage with Gen H which began in November. I will be moving out in January and have students ready to lease my property. I need to get a letter from Gen H granting consent to let until my term is up to allow me to start a new mortgage. How do I go about this?
- I am trying to find out Gen H fees for conversion to consent to let from a fixed rate residential mortgage?
- I was just enquiring if Gen H were picky when considering consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- Prospective tenants are about to move into my property and I have mortgage offer from Gen H on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- We have an cottage in our garden. Do we need consent to let this from Gen H? If so, what is the process if I would like to switch my mortgage to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Gen H consent to let information
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 lease may prohibit 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 violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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 Gen H your property may be repossessed