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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.
Frequently asked questions relating to Hampden consent to lease
- My brother and I jointly own a small apartment in Wandsworth with a Hampden mortgage. I want to vacate and buy a house with my fiancee. How do I deal with letting out my room? Do I need consent to let from Hampden. My brother will continue to live in the apartment
- My fiance and I are looking to apply to Hampden for consent to let on our existing residential property in Westminster. I am planning to draw down equity from my existing house ahead of this, and using that money to acquire a new residential property. I will live in that property whilst renovating it for six months at which point I intend to sell it then move back to my current house. Is this something Hampden will consider consent to let for or is that out of their criteria?
- I have been in the Royal Navy for three years and am looking to buy a home with a Hampden mortgage. I would like to be given consent to let the property to my mother and father in law. In the future I plan to reside in the property with my family when I leave the Royal Navy. Is this possible?
- Last month I got married and my wife and I would like to buy a family home in the coming year, whilst keeping our garden flat in Hackney we currently live in to rent out. Mortgage on the flat is with Hampden. I wish to avoid putting myself in a situation with two residential properties and then be refused consent to let.
- My existing mortgage is with Hampden, but I am going to move out for around a year as we need to be nearer to my partner's mum. Will Hampden issue consent to let?
- My fixed rate loan with Hampden ends in April and have to relocate for work soon after. Will I be able to both refinance and gain consent to let?
- Me and my husband want to let our house out and use the rental income to cover the rent on a house in Croydon. What are the chances of being given consent to let by Hampden without being forced into a new rate.
- My husband and I want to consider the option of leasing out my home with consent to let from Hampden whist away travelling for six months
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supporting the above Hampden 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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to 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 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