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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.

Questions and Answers: Hampden consent to let

  • I have a friend who is considering renting their property out and moving in with partner. The property is in Hackney and has a £95k mortgage with Hampden. What would she need to do to get consent to let if she decides to move forward.
  • I have a ground floor flat but I am hardly there, deliberating the option of renting it out. The mortgage is with Hampden, would I have to convert my mortgage deal or do I apply for consent to let?
  • I appreciate the GGT ramifications of converting a Hampden mortgage to consent to let, but what about the ongoing rental earnings vs outgoings? Say I changed my former owned three bedroom ground floor purpose built flat into CTL and moved out and pay rent elsewhere. Is it legitimate to deduct the rent I am paying from the rental income?
  • I would like to let my ground floor flat out from the end of Nov next year as I will be travelling for a few months. I have a homeowner mortgage with Hampden. I will not be letting for more than 6 months. Most likely it will be 4-5 months. It has been suggested that I get permission from my freeholder first? Please can you suggest what I should be doing in what order?
  • Hampden - consent to let potential. Can you advise on the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
  • I would like to know if I have a residential mortgage with Hampden and decide to let it out, does the rate increase and are there any additional costs for seeking consent to let.
  • Do I require consent to let if I let to a family member (in my situation my father now lives there and contributes towards the Hampden mortgage)?
  • Are you aware if there is usually a maximum loan to value amount before Hampden will grant consent to let?