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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 . Mention is made of an assured shorthold tenancy. Can you explain what this is?
- At present I have a standard mortgage with Handelsbanken. My company has offered me a house as part of my job and want to lease out my current property. The financial broker has informed me it is a simple process. Are you able to provide me with some information please?
- My house had been let to students for three years between 2009-2012 while working overseas. I have a letter dated March 2010 from my building society granting consent to let. In the letter it explicitly stipulates that the consent to let is valid for "the remaining term of the mortgage". I have not remortgaged since the letter was issued. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be sufficient for the new lender Handelsbanken for the house I wish to buy.Your view would be appreciated
- I have been serving in the Royal Navy for six years and am looking to acquire a property using a Handelsbanken mortgage. I would like to be given consent to let the house to my parents. In the future I plan to live in the property with my wife and kids when my military career comes to an end. Will I need to apply to my Commanding Officer to request permission to rent it out?
- My circumstances have changed, and I would like to rent my home out - meaning consent to let- I have about £200K loan with Handelsbanken and currently 100k equity I need to side-step the early repayment fees.
- There is a chance of me going to Aus for a year with work. Planning on taking the husband with me and hoping to rent our UK property in the meantime on a temp basis to make things more cost effective. I was just enquiring whether Handelsbanken currently allows consent to let
- I recently bought a property with 10% deposit for personal uses. A mortgage was taken with Handelsbanken. But my circumstances have now changed. I am being transferred overseas. Am I able to get consent to let from Handelsbanken and put the property up to let?
- I would like to find out more about obtaining consent to let on a property. In particular what is the procedure for consent to let if you have a homeowner mortgage with Handelsbanken
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Information to consider in conjunction with the above Handelsbanken consent to let information
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
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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise 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