Need Help?
Need professional advice for your consent to let with Hodge Equity Release? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Hodge Equity Release consent to let
- I am currently in the process of emigrating to California . Rather than finding a buyer, I would prefer to rent my existing property out, just in case things fail to work out and I decide to return in a couple of years. I have a current mortgage is with Hodge Equity Release. Would I be able to refinance with another mortgage lender on a much lower interest rate then apply for Consent to Let once the refinancing is in place?
- Contracts were exchanged last month for an off plan property in which I was going to live in, but my manager has presented me with the opportunity to work abroad for 2 years, can I let the new property with consent to let from Hodge Equity Release.
- I need to switch my residential mortgage with Hodge Equity Release to a consent to let and looking for some help... I bought my first property in Hendon sixyears ago. After a career opportunity I moved to Edinburgh, and 6 months ago got a residential joint-mortgage with my boyfriend. I am inclined to stay with Hodge Equity Release and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if Hodge Equity Release turn me down what lenders should I approach.
- I would like to buy a second house having recently purchased a garden flat on residential mortgage. Planning to purchase next year. I have been advised that I may have to get a consent to let from Hodge Equity Release, my current mortgage provider? What is the best way to go about this and obtain the consent needed.
- I am require from Hodge Equity Release consent to let out my flat in Lambeth. I am going to live with my grandfather as I am off work through illness.
- Interested to know if I would be able to get consent to let from Hodge Equity Release in order to move back in with my mother and father for 12 months and conserve some cash to extend the lease on my property?
- I am currently refinancing and looking into the flexibility of certain lenders when it comes to consent to let. Hodge Equity Release is one of the lenders I am thinking of going with. How accommodating are they when it comes to consent to let?
- Is there a time limit on a consent to let from Hodge Equity Release? and do you need to get a new mortgage first or a general residential mortgage can just be changed to a consent to let after application?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Hodge Equity Release 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 obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform 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 Hodge Equity Release your property may be repossessed