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.
Sample questions relating to Hampden consent to let
- Me and my brother are joint proprietors of a property in Lambeth with a Hampden mortgage. I want to move out and buy a new property with my fiancee. How would I deal with renting out my room? Would I need consent to let from Hampden. My brother will continue to live in the apartment
- I refinanced with Hampden recently, borrowing extra with the intention to extend the property. That extension has proved not to be possible and I now intend to purchase a further property as my main home and rent the old property out with consent to let. Is that likely to result in me stitching myself up?
- I cannot locate the form to download "consent to let" on the Hampden website. Could you please email me the URL to do it? Thanks a lot.
- I have a property in Newham with a Hampden mortgage but I no longer reside there. My dad moved in but is there rent free. I currently live in rented premises and am looking to buy a house. I have come across an ideal property at an attractive price. I have sufficient for a deposit to put down on the house I am interested in but would be hard pushed to pay enough off the old property to switch it to a buy to let mortgage at the same time. Can I change the current Hampden mortgage for my old flat into a consent to let and use my savings to pay a larger deposit for the residential mortgage on the property that I want to buy?
- I was just curious as to whether Hampden would issue me with consent to let and what kind of charges, penalties and rate increase etc
- My Hampden mortgage rate comes to an end this June can I switch to a interest only with consent to let?
- Do I need to wait for consent to let to be given on my existing domestic mortgage with Hampden before applying for a resi mortgage on a new property?
- Will Hampden issue consent to let my flat? I currently have a residential mortgage, never had arrears and have been with Hampden for about since 2012. What charges am I likely to incur
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Hampden consent to let Info
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 inform them could trigger 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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Hampden your property may be repossessed