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 wanting to write to my lender Habito explaining the following reasoning for me asking for consent to let ; "I am struggling paying the monthly mortgage amount and want to move to a smaller property but can't sell. I am very concerned by failing to make payments and have considered handing back the keys. If you granted consent to let this will likely solve things." Is this likely to convince them to grant me consent to let?
- I am currently choosing a mortgage as FTB and considering Habito with my financial adviser. Suppose I choose a 3 year fixed rate I move in the property and after twelve months, an opportunity comes up which involves a relocation effectively moving to a different city. In the case Habito gives me consent to let,would the interest rate increase?
- I bought a house 3,two years ago in Sunderland when I worked locally. I got a new job which involved working in Watford. I drive down on Saturday afternoon and live with a relative mid week. I am now thinking ofmoving home to avoid the commute. I am exploring the possibility of renting out my existing home. My mortgage is with Habito, would I have to move onto a new mortgage product or do I try to get consent to let?
- I have a mortgage with Habito however my husband and I will be emigrating to New Zealand in September. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- We have already been told to write a letter to Habito to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
- Is it possible to negotiate a consent to let from Habito if I have a current mortgage which has been in place for ten years?
- I want to apply for consent to let from my lender Habito to lease out my flat. . Do Habito grant consent to let in this scenario?
- I currently have a residential mortgage with Habito and plan on letting due to work being based in Luton. In seeking consent to let from Habito do I run the risk of them forcing me to change deal to B2L
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Habito consent to let Questions and Answers
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
One thing to remember when arranging a consent to let mortgage with Habito is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 obtain the consent of 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
Omitting to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Habito your property may be repossessed