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Need professional advice for your consent to let with Halifax? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Halifax consent to lease
- My fixed rate mortgage with Halifax runs out late 2017 and I'm planning on fixing for another 4 years with Halifax, hopefully rates will remain low. In two years time I may wish to move for a couple of years to a different city. How difficult is it to get consent to let from Halifax under this situation? I would be returning after two years to live in my property.
- My lawyers have served eviction orders on a tenant who is in arear of rent. The relevant claims have been served. The tenant's defense for refusal to pay is based on the assertion that I I failed to obtain consent to let my 2 bed flat from my lender Halifax
- I have a home that's currently under shared ownership (My share is 50%) and I bought it in July 2013. I plan to go through the full purchase of the house. My partner and I also have in mind a second house that we are hoping to buy. Mortgage in principle has been approved by Halifax. I would like to know that I will be able to put the current house through consent to let as soon as the remainder share has been purchased so, that we can start the process of purchasing the new home
- I sought consent but I did not get it as I did a remortgage in May but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. As a backup plan I can remortgage with Halifax but will they give me consent straight away?
- I was just wondering if Halifax would issue me with consent to let and what kind of charges, penalties and rate increase etc
- I will have to move to NYC for two years, I have a property with a Halifax mortgage. Do I need to ask consent to let? Will they be cooperative?
- My wife and I want to move home and have found a property we wish to purchase so are considering letting out with consent to let from Halifax for our original property to enable us to make an offer and not miss out on the potential new house.
- I am fixing my homeowner mortgage with Halifax but as a result of my job I may have to go abroad for few years. Will Halifax allow and give consent to let and will any penalties be applied in such circumstances
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to the above Halifax consent to let Questions and Answers
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 inform them may result in your insurance becoming null and void. 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 terms are not adhered to you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Halifax