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 Lease Example Support Desk Enquires
- I run a letting agency in Newham. If a landlord opts to lease out their house without consent to let from Harpenden Building Society - have I failed in my duty of care? Technically the landlord isn't committing a crime, however, they would be breaching their agreement with the Harpenden Building Society, as Harpenden Building Society most probably require to be informed of any change in circumstances. If I ignore the issue could I be storing up trouble?
- I got a domestic mortgage with Harpenden Building Society last September and then had to relocate for work, I am now looking to leasing my flat out for a few months whilst I am away. Am I able to get a consent to let from Harpenden Building Society, and what effect would this have?
- I need to decide what to do ie let or sell. The property has a mortgage against it with Harpenden Building Society (with quite a bit of equity). I want to buy and live in a second house but keep my old house and rent it out. How can I fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- I am planning to use equity in my existing house to purchase an additional property which I propose to live in whilst I renovate it. My preference is to rent my existing property with the Harpenden Building Society homeloan. I was just seeking a general view on whether Harpenden Building Society currently allows consent to let? House is worth £450 k with a £125k mortgage in place.
- I am looking at new mortgages and also thinking of renting the property in the years to come - Is there a cost with Harpenden Building Society to procure consent to let and what are the requirements?
- We have a new mortgage however my girlfriend doesn't feel safe in the property due to other tenants in the block. I know that many lenders have a 6 month thing before consent to let - does this apply to all lenders. Is there any way Harpenden Building Society would grant consent to let from day one?
- I would like to know if I have a normal mortgage with Harpenden Building Society and decide to lease it out, does the rate get loaded and are there any supplemental charges for seeking consent to let.
- My mortgage has been with Harpenden Building Society for six years. I would like to apply for consent to let my flat. I have been waiting for a response from Harpenden Building Society. Are you able to please check and help?
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Important warnings to consider in supplemental the above Harpenden Building Society consent to let Questions and Answers
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 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 lease may prohibit 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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Harpenden Building Society your property may be repossessed