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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.
Recently asked questions relating to Harpenden Building Society consent to lease
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Will Harpenden Building Society invoke a right to change the rates on a non-commercial mortgage where Consent to Let at any time, onto ‘rates akin to their Buy to Let range'?
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I'm about to get in touch with Harpenden Building Society for consent to let out my house in Harpenden Building Society. However I have put the house on the market but there is no interest and paying a full mortgage, council tax and insurance on an empty house is exhausting my finances. What approach would Harpenden Building Societytake if I market the property?
- We currently have a three year fixed term home loan with Harpenden Building Society that we're approximately one year into. Our situation has now altered and we would like to rent out our flat for a year and whilst we relocate to Newham. How do we minimise the possibility of Harpenden Building Society rejecting consent to let.
- I took a loan out on a 2 bed flat last May however I will be working outside of commuting distance of Brent in the medium term but hope to find work closer in the long term. Given I have not had property long I will lose money if I sell and do plan to return to Brent so would like to keep it. How likely are Harpenden Building Society to allow a consent to let and what are the financial implications ?
- Harpenden Building Society. Will they issue consent to let a house for two years? I reoccupy as an owner.
- My OH and I have a domestic mortgage with Harpenden Building Society and are deliberating on obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Before we apply it would be helpful to know the repercussions if any of making the change and any facts that we need to be aware of.
- My Harpenden Building Society mortgage fixed rate ends in January and have to relocate for work then. What are the chances that I will be able to both refinance and gain consent to let?
- I am planning on relocating inside the next nine months and want to let my property out. My interest rate is fixed with Harpenden Building Society. I am concerned that a rate hike would be too much if that was linked to obtaining consent to let
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 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
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 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
Omitting to advise 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Harpenden Building Society