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.
Frequently asked questions relating to Halifax consent to lease
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Just wondered if any of your clients had recent experience asking for Consent to Leasefora year from Halifax or whether you have any advice as to how such approval is given.
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Halifax have just granted me consent to let. After some effort, Halifax have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. What is that?
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I am a first time buyer hoping to complete on a 2 bedroom house in Halifax. I have a healthy deposit with a mortgage from Halifax. My dilemma is that my girlfriend owns a apartment in London and I can foresee myself moving in next year, when I would want to let out my property. I have heard of consent to let but it does not sound like there is any certainty. Can you offer any advice?
- I have a shared ownership home in Enfield and will be looking to buy out the rest of the property. However, in the future I may be working in Canada for a short period of time so would like to know what approach Halifax take to consent to let as I am considering a remortgage with them. I am by no means sure that a mortgage can be obtained on my property but in the meantime can you provide further detail on their consent to let policy?
- I am looking to Halifax to issue me with consent to let out my home in Bromley. I am travelling for a year
- I have a mortgage with Halifax on a three year fixed rate. I may have chance of a teaching position overseas next summer. Would I qualify for consent to let via Halifax were I to accept this opportunity overseas?
- We have a domestic mortgage with Halifax and are deliberating on obtaining consent to let so that we can apply for a further mortgage on another property that I own on a buy to let basis. Ahead of applying I would like to know the consequences of making the change and any facts that we need to consider.
- My fixed rate loan with Halifax expires in April and have to move with work then. Will I be able to both refinance and gain consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Halifax consent to let information
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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 your covenants under 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Halifax