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.
Examples of recent questions relating to Handelsbanken consent to let
- Under what circumstances will consent to let for a property be given by Handelsbanken? For what period of time do you have to have had ownership of the property before consent to let can be negotiated with Handelsbanken? By way of background:We were living in a very small mid terrace house which is too small for us, my husband is also unwell and we are far away from family who could offer us a bit of relief, in the form of babysitting. I am interested in obtaining consent to let initially in order to renting the property out to cover the expense of the Handelsbanken mortgage.
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I have a current mortgage contract with Handelsbanken and wish to clarify if it would be possible to seek consent to let out our one bedroom ground floor purpose built flat in Havering.
The purpose for wanting to find tenants for the property are are due to: -
- My wife and I will be relocating to Melbourne in January.
- In letting out the house this will enable us to make some savings to support the migration process.
- There is little merit from a monetary perspective to pay outright for a property which we are no longer living and by leasing out the place this would be considered as an ongoing investment.
If Handelsbanken agreed that we are able to proceed with renting we would suggest some financial commitments which are as follows: -
- Maintain paying the monthly mortgage payment directly from my bank account.
- Retain the services of an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
- Supply our contact details for when we relocate.
- I have a mortgage with Handelsbanken however my husband and I will be relocating to South Africa in December. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
- I am on a three year fixed rate mortgage with Handelsbanken which began in November. I will be moving out in March and have tenants ready to lease my property. I need to get a letter from Handelsbanken granting consent to let until my term is up to allow me time to move onto a BTL. What is the procedure for going about this?
- We are nine months into a three year normal mortgage with Handelsbanken. Just curious if it's ok to let out the flat on my existing mortgage. Will Handelsbanken grant consent to let?
- I was just wondering if Handelsbanken were picky when considering consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- Is it possible to refinance with Handelsbanken with consent to let if my fixed rate is about to expire. Circumstances would not have changed.
- I might be looking to let out my property and wondered what I would need to do to obtain consent to let from Handelsbanken. There is a possibility that I might be moving abroad for six months.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Handelsbanken consent to let Advice
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
One thing to remember when arranging a consent to let mortgage with Handelsbanken is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. 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 violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Handelsbanken