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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.
Questions and Answers: Halifax consent to let
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What options are open to me if my request for consent to let is subsequently refused by Halifax?
- Just looking for some information, I have a mortgage on a flat with Halifax and I am contemplating the idea of renting the property out. Could this be done without transferring my mortgage or getting consent to let from Halifax?
- I have a house in Bromley but I am moving with my girlfriend to a different location for career reasons and moreover near her university. Im keen retain the property but not sure I can afford a BTL rate. It will only be short term -two years until my girlfriend completes her degree and I can sell, or move elsewhere. My mortgage is with Halifax. Is there a chance I won't be approved for consent to let?
- My fiance and I might have to lease out her flat, and I have a query concerning obtaining consent to do so. I know I need to notify Halifax and get a consent to let or move to a buy to let mortgage. But the property is leasehold, so do we need consent to let from the freehold company?
- I would like consent to let on my Havering maisonette from Halifax. I will be going abroad for a year so wish to know if I am able to let my flat
- What is the process for getting a consent to let application form from Halifax and how quickly can I get the consent?
- I have a mortgage with Halifax but am wanting to let my house out and move in with my partner and baby what would I have to do to obtain consent to let?
- I could potentially need consent to let from Halifax in the future with work. I am just seeing what the options would be if this was the case. Are there any time restrictions on the length you can let out your property with consent?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Halifax 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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them could trigger your insurance becoming invalid. 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 violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Halifax