Need Help?
Need professional advice for your consent to let with Holmesdale Building Society? 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 Holmesdale Building Society consent to let
- How likely are Holmesdale Building Society in issuing me with Consent To Let on a ground floor flat? Agents have had it on the market for three months. I am keen to sell but I'm anxious that given the lack of interest I will need to let out the property in order to cover the mortgage to Holmesdale Building Society (I no longer reside there). I would prefer to come clean with Holmesdale Building Society than do it on the sly but I am concerned as to how accomodating they would be.
- I am three years up in a 5 years fixed term mortgage and have accepted a job abroad so would like to rent out my flat for two years. My LV is about 60%. Are you able to clarify whether Holmesdale Building Society will load the interest rate for consent to let for 2 years?
- I have a apartment in Lewisham with a Holmesdale Building Society mortgage but have not lived there for a while. My dad moved in but is there rent free. I currently live in rented premises and am keen to buy a house. I have identified an ideal property at an attractive price. I have sufficient for a deposit to use on the house I am interested in but would find it difficult to pay enough off the old property to change it to a buy to let mortgage simultaneously. Can I transfer the current Holmesdale Building Society mortgage for my old flat into a consent to let and use my savings to pay a larger deposit for the homeowner mortgage on the property that I want to buy?
- I have had a home loan with Holmesdale Building Society for 1998. I got divorced 18 ago put the property in my name by transfer of equity. My circumstances have changed, I want to keep my house but live with my new partner, letting my house out. I have been informed by my IFA that I can seek consent to let by Holmesdale Building Society instead of a BTL mortgage as I I did not buy the house with the intention of letting it out, is this correct?
- My lender refuse to grant consent to let until I have a move in date confirmed with a tenant. How can I confirm this without consent to let? I am not sure but I think my friend had a similar issue with Holmesdale Building Society.
- I have recently got married and I am in the process of buying out 100% of my co-ownership mortgage with my wife. As a result we have now been given a 90% loan to value on our house. We want to buy a larger home. Will it be possible to get a consent to let on my new mortgage with Holmesdale Building Society to allow us to get a mortgage also with Holmesdale Building Society for a new home?
- As a result of career opportunities I will be relocating to Scotland and would like to let out my flat temporarily, are you able to confirm what action I need to take in order to obtain consent to let from Holmesdale Building Society?
- I am currently refinancing and exploring the flexibility of certain mortgage providers when it comes to consent to let. Holmesdale Building Society is one of the mortgage companies I am considering. How accommodating are they are far as consent to let is concerned?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Holmesdale Building Society consent to let Info
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
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 terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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 Holmesdale Building Society your property may be repossessed