Need Help?
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
- I would appreciate some feedback as to whether consent to let from Harpenden Building Society is the best strategy for me. I purchased my property last July by porting an existing Harpenden Building Society mortgage product. My fixed rate ended two months ago I'm thinking about moving in with a new partner. I would prefer not to sell my property yet because I'm unsure of whether the new move will prove successful. I just wanted an idea of whether a consent to let from Harpenden Building Society would be possible?
- I sought consent but was turned down as I did a remortgage in May but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. On the other hand I can remortgage with Harpenden Building Society but will they give me consent straight away?
- My partner and I might have to rent his property out. I am aware that I require consent to let by Harpenden Building Society. We plan on joining a landlord association if we go ahead and let the property, but are there any opinions on which are the best? We've seen the RLA and National Landlords Association.
- I am in the Royal Navy and am looking to purchase a house using a Harpenden Building Society mortgage. I would like to obtain consent to let this house to my sister. In the future I plan to reside in the property with my wife and kids when my military career comes to an end. Is this achievable?
- I have a mortgage with Harpenden Building Society on a two year fixed term contract. I could have an opportunity for a teaching post abroad in a years time. Would I qualify for consent to let by Harpenden Building Society were I to accept this job overseas?
- I have a residential mortgage with Harpenden Building Society, and I would like to rent the property out, until I decide whether to sell or hold on to it as an investment. As things stand I am on the standard variable rate. Will I need to move onto a new mortgage? I.E. buy to let?
- Do you have the address to which a Consent to Let request to be sent for Harpenden Building Society? Sorry about bothering you with this query.
- I have fixed rate mortgage with Harpenden Building Society. I am going have to rent out my place due to necessity. Were I to apply for consent to let, will I have to pay significantly more interest?
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Important warnings to consider in further to the above Harpenden Building Society 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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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.
If you do not keep up the payments on your mortgage with Harpenden Building Society your property may be repossessed