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.
Common questions relating to Halifax consent to lease
-
Can you clarify if consent to let compulsory from Halifax or can I let my new house without telling Halifax and having to convert to a buy-to-let loan?
- If I was to let out my studio flat with consent to let with Halifax, what evidence would be required of tenancy? If after twelve months I decided to let it on a series of short term lets, am I still required to supply proof to Halifax, or will they be content as long as i keep up with the payments? E.G. if I rent the rooms out individually at some point in the future, is there any reason for Halifax to know and would they take issue?
- I took out a homeowner mortgage with Halifax last October and then had to relocate for work, I am now looking to renting my property out for six months whilst I am away. Am I able to get a consent to let from Halifax, and what effect would this have?
- Me and my fiance hope to buy a house together. Idea is for me to get consent to let my flat from Halifax. Thinking further ahead - when my two year fixed comes to an end - how would it work if I wanted to remortgage then?
- My lender refuse to issue consent to let until I have a move in date confirmed with a tenant. How can I confirm this without consent to let? I can't be certain but I think my friend had a similar issue with Halifax.
- We have a mortgage with Halifax on our one bedroom second floor purpose built maisonette in Havering. We are planning to buy a new house and move in there. How do I switch our existing mortgage on to consent to let?
- Does my loan to value need to be at a certain level to allow me to apply for a consent to let from my mortgage lender Halifax. Will any consideration be given to the fact that I only recently out the mortgage two months ago?
- I am interested in consent to let for my house mortgaged with Halifax. How do I proceed? Do I have to call Halifax and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to 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
If 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 notify them may 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
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger 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 record their consent in writing.
If you do not keep up the payments on your mortgage with Halifax your property may be repossessed