Need Help?
Need professional advice for your consent to let with Santander? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Santander Consent to Lease Example Support Desk Enquires
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I'm about to apply to Santander for consent to let out my house in Santander. However the property has been on with agents for 6 weeks but there without a sniff of interest and forking out for a full mortgage, council tax and insurance on vacant house is hurting financially. What position would Santander take if I market the property?
- What is the process for obtaining consent to let from Santander? What information do they need? is there a fee to pay? How long the consent is valid for? Do I need to renew it annually? What if I obtain a consent but decide not to rent the property out?
- The plan is to move in with my partner and I have let my property out to two students on a twelve month tenancy. I am now applying for consent to let from Santander but what if they decline. I can’t renege on my contract in terms of backing out of renting the students as the paperwork is finalised. On the flip-side Santander could take me to court for breach of mortgage condition i.e. letting it out without consent to let.
- Resulting from a redundancy we are looking to move away from Hillingdon and our apartment, potentially to a job in Sweden but that means we will want to let the property but don't want the penalty charge of existing Santander mortgage which will be expensive.Can Santander refuse to grant us consent to let?
- My wife and I are having to move to Kenya for a couple of years for my job but I don't want to switch my mortgage to BTL as I want to reoccupy it when I return. Do you know if Santander charges additional interest? Is there any work around?
- So this is the scenario: I am moving abroad. This might be for many years. That being said I will be on a four month test period .I'm wanting to know the criteria for consent to let from Santander and any costs involved
- I wish to know all the factors and procedures in place to change my Santander mortgage to a consent to let?
- Is it possible to remortgage with Santander with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Santander 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
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
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise 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 Santander your property may be repossessed