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.
Recently asked questions relating to Harpenden Building Society consent to lease
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I have been asked by my proposed tenants for a letter by way of my ‘consent to let’ from Harpenden Building Society, my bank. Is this standard practice? My letting agent cannot offer an explanation, can you?
- I have a shared ownership property in Hillingdon and will be looking to buy out the rest of the property. However, within the next six months I may be working abroad for a short period of time so would like to know what approach Harpenden Building Society take to consent to let as I am considering a remortgage with them. I am not sure if they will lend on my property but as an aside can you provide further advice on their consent to let requirements?
- I bought a house three years ago in Newcastle when I worked locally. I got a promotion which necessitated working in Wimbledon. I commute down on Sunday afternoon and live with a relative during the week. I decided onmoving home to avoid the commute. I am looking into the option of renting out my current home. My mortgage is with Harpenden Building Society, would I have to change my mortgage rate or ought I apply for consent to let?
- I am in the armed forces and am looking to buy a home with a Harpenden Building Society mortgage. I would like to get consent to let the house to my parents. In the future I plan to reside in the property with my wife and kids when I leave the armed forces. Is this achievable?
- My existing mortgage is with Harpenden Building Society, but I will soon to need move out for about a year as we need to be nearer to my partner's mum and dad. Will Harpenden Building Society grant consent to let?
- I don't currently have consent to let by Harpenden Building Society but I would like to change to one, I am looking at working away for a couple of years. But want to keep my home for when I come back - are you able to help?
- Last month I purchased a property with a Harpenden Building Society home loan. However I am presently living with mother and father. I don't want to move in until next November due to some family reasons. In meantime can I let out the property with consent to let?
- Do Harpenden Building Society grant consent to let? I am just considering this as an option if I move house in the the near future
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting 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 terms are not adhered to you may be in violation of 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 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