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Need professional advice for your consent to let with Harpenden Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Harpenden Building Society consent to let: Q and A’s
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I have been letting out my flat with "consent to let" from Harpenden Building Society on a standard mortgage for the last three years. Harpenden Building Society have just written withdrawing their consent to let if we do not switch to one of their "buy to let" products.
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Harpenden Building Society have just granted me consent to let. After some effort, Harpenden Building Society have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. Can you explain what this is?
- I will shortly be moving to Australia. Rather than sell my house, I would like to rent it out, just in case things don’t go as expected. My present mortgage is with Harpenden Building Society. If I looked to refinance would a new provider see this as me attempting to dodge a Buy To Let mortgage, of which there is very little availability for 80% LTV, and hence turn down my request for Consent to Let?
- My lawyers have served eviction orders on a tenant who had not paid his rent in 3 months. A Section 21 and section 8 have been served. The tenant's defense for non payment is built on the assertion that I do not have consent to let my one bedroom apartment from my mortgage company Harpenden Building Society
- Harpenden Building Society. Will they issue consent to let a house for three years? I reoccupy as an occupier.
- Do you know if Harpenden Building Society would have archive records as to whether consent to let was granted for a specific property?
- I want to take in in a lodger for my one bed flat in Lewisham which I live in. My mortgage is with Harpenden Building Society. Will they grant consent to let?
- I have a residential mortgage with Harpenden Building Society - 40% equity or thereabouts. I am considering relocating for another job and was curious if Harpenden Building Society are flexible in changing the mortgage to allow for consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Harpenden Building Society 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
One thing to remember when arranging a consent to let mortgage with Harpenden Building Society 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
If your property is leasehold, the provisions in the lease may prevent 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 violation of the lease. This could trigger 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 Harpenden Building Society