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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.
Frequently asked questions relating to Holmesdale Building Society consent to lease
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Holmesdale Building Society have just granted me consent to let. After some effort, Holmesdale Building Society have issued me with ‘consent to let’ confirmation . Mention is made of an assured shorthold tenancy. Can you explain what this is?
- If I were to let out my studio flat with consent to let with Holmesdale Building Society, what proof would be required of tenancy? If after twelve months I decided to let it on a series of holiday term rental, am I still required to supply proof to Holmesdale Building Society, or will they be happy as long as i keep up with the payments? For instance if I let the rooms separately at some point in the future, is there any reason for Holmesdale Building Society to know and would they care?
- For ten I have a I have had a mortgage with Holmesdale Building Society. My partner has purchased a house in Ealing and he has asked me to live with him. Can I rent out my flat with consent to let in case I need to move back? Also what legal documents must I provide Holmesdale Building Society with when completing the consent to let application?
- I previously got consent to let from Holmesdale Building Society three yrs ago but failed to need it and subsequently refinanced with another lender. I recently asked for consent to let. I was told it would be authorised since I met the criteria. However I received a communication informing me that I need to supply evidence from the DWP evidencing that that are aware of my current situation before they can provide consent. They said this is policy but I have not been able to find these conditions on their site. I did complain about the insinuation that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £35 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to continue with them
- I previously took a mortgage with Holmesdale Building Society, but I am going to need to get consent to let for approximately a year as my partner is unwell and is struggling to balance work with the hectic environment we are living in. We want to take a break for twelve months (by living near her mother and stepfather and having their help) in a greener less intense part of Liverpool.
- I would like to rent a room in my flat in Barnet. Do I need consent to let from my mortgage co Holmesdale Building Society?
- Me and my brother have had my mortgage with Holmesdale Building Society since 2007 with no arrear If I sought consent to let would it be given?
- Assuming that I was successful in obtaining consent to let from Holmesdale Building Society, can I sell during the consent period? Is it possible that I would incur any penalties?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider 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
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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed 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 inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Holmesdale Building Society your property may be repossessed