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.
Common questions relating to Harpenden Building Society consent to lease
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Is it possible to remortgage on a consent to lease with Harpenden Building Society?
- I have a residential mortgage with Harpenden Building Society and will be joining the Royal Fleet Auxiliary in September. This is a civilian manned fleet run by the MOD. I will be at sea four months on and three months in the UK. During my time on assignment I want to rent out my house in Ealing and move in with my sister when on shore. What's involved in getting consent to let? Can it be granted? and does it involve an increase in interest rates?
- I have a Harpenden Building Society mortgage on an apartment I own, in Ealing. Last month, resulting from a change in my circumstances I decided to rent out the apartment, and rent an alternative property in a different area within same loc. The personal situation that changed is that I started living with my partner, and the flat is too small for our needs. I would rather not sell the flat because the current market value is 15% less than the market value when I acquired the flat in 2005. I applied to Harpenden Building Society for a consent to let which was turned down because they considered that my intention was to invest in the flat. Any advice would be greatly appreciated, as this is really stressing me out. There is a sense of urgencybecause there is already a prospective tenant waiting for this consent to let and may look elsewhere.I look forward to hearing from you
- My mortgage with Harpenden Building Society has been in place for less than a year but I discovered this morning that I will soon be made redundant. I would appreciate some advice on gaining consent to let by Harpenden Building Society
- Harpenden Building Society. Will they grant consent to let a house for three years? I reoccupy as a resident.
- Will Harpenden Building Society want to know why I am seeking consent to let? Should I disclose my potential relocation overseas?
- I have a residential home. I would like remortgage with Harpenden Building Society and either change to buy to let or consent to let. I'm still inside the Early Redemption Charge period so not sure if it would trigger the penalty payment?
- Does my loan to value need to be at a certain level to allow me to apply for a consent to let from my mortgage lender Harpenden Building Society. Does it make a difference that I only recently out the mortgage three months ago?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Harpenden Building Society consent to let Info
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
Omitting 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
Should the tenure of your property be 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 terms are not adhered to you may be in violation of your covenants under 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 taking legal action 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