Need Help?

Need professional advice for your consent to let with Habito? 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 Habito consent to lease

  • I am aware of the GGT connotations of converting a Habito mortgage to consent to let, but what about the ongoing rental revenue vs expenses? Say I have converted my former owned ground floor flat into CTL and vacated and pay rent elsewhere. Is there any way to expense the rent I am paying from the rental income?
  • I have a fixed mortgage with Habito (with a little over one year left) but due to redundancy want to move away from Essex (actually to a new job in France) and so want to rent the property out. We don't want to have the expense of an early redemption penalty and understand that some lenders happily give this 'consent'...what is the policy adopted by Habito?
  • I have an offer accepted to purchase a property, we have a deposit of between 20-25% for a standard mortgage with Habito. The small problem is we are due to leave the country in two months for work. We are using a financial adviser. He says if you tell this to Habito up front you will need to get a buy to let. Do go ahead with residential mortgage with Habito, shortly thereafter seek consent to let? Alternatively, do we try and contact Habito now and disclose there is a possibility we will move abroad in the future (nothing is definite concerning the move abroad) and see if they confirm before hand that it wouldn't be an issue
  • We are hoping to make use of equity in my present house to acquire another property which I intend to live in whilst I renovate it. I would like to rent my current property with the Habito loan. Is it likely that I would obtain consent to let? House is worth £300 k with a £125k mortgage in place.
  • Can you help me understand the requirements that Habito set for consent to let? Are you able to assist?
  • I are thinking about applying to Habito to obtain consent to let our property, how long does it take from the point of submitting the application to us finding a letting agent and listing our house for rent? and are there any further steps in the process?
  • I am already leasing out my flat but may have sussed that I am not living there. I have 5 months remaining on my fixed rate. Is it simple to get consent to let from Habito. Is it just a quick phone call, pay the fee and that's it?
  • I have spoken to someone at Habito about changing our existing mortgage to consent to let (the current two year fix comes to an end in june next year). Can I just confirm that I need to formally put the request in writing explaining our change in circumstance to Habito? Where do I need to send the letter to?