Need Help?
Need professional advice for your consent to let with Handelsbanken? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Handelsbanken consent to let: Q and A’s
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Handelsbanken have just granted me consent to let. After some effort, Handelsbanken have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. Can you explain what this is?
- Last September my wife and I bought our council home, in SW London,recently valued at £175k. It's completely paid for from our own finances, unencumbered. We are prohibited from selling (without penalty of losing some of our discount) before five years have gone by. Regardless, we wish to retain it as a investment property to lease out. We wish to release some equity via a Handelsbanken mortgage. I am confident that my rental income would cover my monthly repayments so can I negotiate consent to let. is this something you can help me with?
- me and my wife have just sorted our rates for another fixed period with Handelsbanken. However, I attended an interview and basically I accepted the job offer in Bromley. I'm going to rent a two bedroom flat for me and my family in Hounslow as we don't wish to sell the house whist there is a possibility that we come back before two years.... We really don't know whether it will work out. We called Handelsbanken but we would like also your point of view please. Is it possible to receive consent to let in that case as we secured a fixed 5 years rate we would not want to lose this rate.
- I are looking to lease out our ground floor flat in Ealing in August. I would like some guidance on what I need to do. I've just moved our Handelsbanken mortgage to a fixed term and just need to understand what the procedure is if I plan to get consent to let.
- The prevailing mortgage is with Handelsbanken, but I will soon to need move out for around a year as we need to be closer to my partner's mum and dad. Will Handelsbanken grant consent to let?
- I am looking for some generic information on consent to let. I already have a mortgage in place with Handelsbanken. I have been given approval to sublet my flat from the freeholder of the block and they asked for a copy of the consent to from Handelsbanken.
- I am thinking of moving in with my boyfriend at his home and would like to rent out my property that I purchased thirteen months ago, I'm just not sure of the process as my property is my first home. What do I need to do to obtain consent to let from Handelsbanken If I obtain consent would my mortgage payments rise?
- I was just wondering how to obtain consent to let from Handelsbanken...do I phone them or apply formally in writing to them?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Handelsbanken consent to let Advice
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
Where 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 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 to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Handelsbanken