Need Help?
Need professional advice for your consent to let with Hampden & Co plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Hampden consent to let
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The tenants for my property have asked for evidence of my ‘consent to let’ from Hampden, my bank. Is this standard practice? My letting agent cannot offer an explanation, can you?
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Within the next few days I intend to get in touch with Hampden for consent to let out my house in Hampden. However the property has been on with agents for 5 weeks but there without a sniff of interest and paying a full mortgage, council tax and insurance on vacant house is a financial drain. What position would Hampden take if I market the property?
- My fiancee and I are are looking to join the property ladder, currently renting. We would ideally like to buy a maisonette in Harrow. We want to move there, but will need to wait for a job - perhaps 2-3 years. Do we have to seek a buy-to-let loan? Would it be possible to take a domestic mortgage with Hampden, even though we won't be moving in straight away? Or could we reside there for a short period of time , then start renting it with consent to let from Hampden? I'm only willing to consider scenarios that are completely legitimate, and wouldn't breach the provisions of the mortgage with Hampden.
- I have a Hampden mortgage with my twin and am looking to vacate and get a new mortgage with my partner. How do I proceed with taking in a lodger? Is consent to let necessary via Hampden? My twin will remain in the flat
- Hampden homeowner mortgage. Will they issue consent to let a house for 18 months? I plan to return as an occupier.
- How simple is it to obtain a consent to let from Hampden and what are the fees? If I want to let out my property for three months how easy is it to chop and change between a normal mortgage and consent to let?
- As a result of job opportunities I will be moving to Scotland and would like to let out my flat temporarily, are you able to confirm what steps I need to take in order to achieve consent to let from Hampden?
- Last month I purchased a property with 10% deposit for personal uses. A homeloan was taken with Hampden. However my circumstances have now changed. I am being transferred abroad. Am I able to obtain consent to let from Hampden and put the house up for rent?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Hampden consent to let information
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
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 result in your insurance becoming null and void. 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 obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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 Hampden your property may be repossessed