Need Help?
Need professional advice for your consent to let with Halifax? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Halifax consent to let
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If push comes to shove what action Halifax can take if I have rented my property in the event that consent to let is not forthcoming?
- I have a friend who is talking about renting their property out and moving in with partner. The property is in Lambeth and has a £95k home loan with Halifax. What would she need to do to get consent to let if she decides to move forward.
- My flat has a mortgage against it with Halifax and I have been renting the property omitting to get consent to let, which I am now led to believe means I am in contravention of my mortgage Ts and C’s. I think that they have found out that I am not living there. Is my only option is to dispose of the property prior to being repossessed?
- We have an offer accepted to purchase a property, we have a deposit of between 10-15% for a standard mortgage with Halifax. The small issue is we may leave the country in 2 months for work. We are using a mortgage broker. He says if you tell this to the lender up front we will need to get a buy to let. Do go ahead with residential mortgage with Halifax, shortly thereafter ask them if we can have consent to let? Otherwise, do we try and speak to Halifax now and reveal there is a chance we will move abroad in the future (nothing is definite regarding the move abroad) and see if they agree in advance that it should not be an issue
- Last month I got married and I am in the process of buying out 100% of my co-ownership mortgage with my wife. As a result we have now been given a 90% loan to value on our house. We want to buy a larger home. Will it be possible to get a consent to let on my new mortgage with Halifax to allow us to get a mortgage also with Halifax for a new home?
- I was just looking into consent to let as it's something potentially I require from Halifax inside the next year. Our personal situation has changed, and I wish to rent my home out
- A work promotions now necessitates that Ibe in different locations a lot and in the circumstances I wanted to get to grips with the procedure for applying for consent to let with Halifax
- I am fixing my residential mortgage with Halifax but as a result of my job I will probably have to go abroad for few years. Will Halifax allow and grant consent to let and there be any penalty
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Halifax consent to let Advice
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
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 obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Halifax your property may be repossessed