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.
Common questions relating to Gen H consent to lease
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I have a residential mortgage over my property in loc and am due to relocate to country for a couple of years. During this period it would be ideal if I could let out my flat. My mortgage provider will not provide me with consent to let. I don’t really want a buy to let mortgage as it’s only for a limited time-frame that I am abroad for.
- I am looking to emigrate to Beijing . Rather than sell up, I would like to lease my existing property out, just in case things fail to work out and I decide to come back within one or two years. The current mortgage is with Gen H. Would I be able to remortgage with another mortgage company on a much lower interest rate then apply for Consent to Let after the refinancing has completed?
- I am looking to move home and I am curious as to whether I can get consent to let on my house then get a mortgage approval for the new house so I can effectively bid without being part of a chain and then lease my property out when I move. Is it likely that Gen H grant consent to let for 12 months if they know I am wanting to buy a further property or only if I am moving short term for career reasons?
- My partner and I intend to lease our ground floor flat out. We have made an offer on a further property for us to purchase and a tenant at the ready to move into ours. I assume I have to ask our mortgage company Gen H for consent to let. Is there a standard consent to let request letter I can copy?
- If we ask for a consent to let letter by Gen H will we be made to change to buy to let mortgage? We are with Gen H and as properties are not selling at the mo and we have seen one we like we were going to rent our home out in order to acquire the new and sell this one if the market picks up.
- I would like to buy a new house but can't afford to sell the existing apartment with a Gen H mortgage. Do you know acceptable terms for Gen H to issue consent to let? Is getting married and having children a good enough reason to make the request?
- I have had my mortgage with Gen H for the past twenty months and I am interested in finding out some more information about the possibility of getting 'consent to let’.
- I currently have a residential mortgage with Gen H and plan on letting due to work being based in Luton. In asking for consent to let from Gen H do I run the risk of them forcing me to change deal to buy to let
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Gen H 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
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 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 conditions are not complied with you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Gen H your property may be repossessed