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
-
Doing everything by the book I’ve been leasing out my house with "consent to let" from Holmesdale Building Society on a regular mortgage for the past 24 months. Holmesdale Building Society have put forward an ultimatum retracting their consent to let if we do not move across to one of their "buy to let" deals.
- We recently sorted our rates for another fixed five years with Holmesdale Building Society. Subsequently, I attended an interview and basically I accepted the job offer in Greenwich. I'm going to rent a small flat for the family in Hounslow as we don't wish to sell the house whist there is a possibility that we come back within a couple of years.... We really don't know whether it will work out. We have contacted Holmesdale Building Society but we would appreciate your point of view please. Is it possible to receive consent to let in that case as we just got a fixed 5 years rate we would not want to swap this.
- My fixed rate runs out June next year and I'm planning on fixing for a further three years with Holmesdale Building Society, hopefully rates will still be low. In two years time I might want to move for a couple of years to a different county. How simple is it to get consent to let from Holmesdale Building Society under this situation? Assuming that monthly rent payments would be about £250 higher than the Holmesdale Building Society mortgage payments.
- I have an annex that my mother has vacated. As the main house is large I was thinking to move into the annex and let the remainder out. This is also due to change of circumstances. Would I need a consent to let from Holmesdale Building Society?
- I was just curious as to whether Holmesdale Building Society would grant consent to let and what kind of fees, penalties and new rates etc
- I would like to rent out my property. Do I just need to send a letter to Holmesdale Building Society asking for consent to let out the home?
- If I have an existing normal mortgage with Holmesdale Building Society and am planning to rent it out in the future will I be issued with consent to let? What is the process and what needs to be done next?
- Would you be able to help me? What do my wife and I need to do to obtain consent to let from Holmesdale Building Society? And how much equity is needed?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Holmesdale 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
If you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them could trigger your insurance becoming invalid. 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 breach of your covenants under 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 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