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Need professional advice for your consent to let with Capital Home Loans? 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 Capital Home Loans consent to lease
- If I was to rent out my one bedroom apartment with consent to let by Capital Home Loans, what evidence would be required of the letting? If after twelve months I decided to let it on a series of holiday term lets, am I still required to provide evidence to Capital Home Loans, or will they leave me alone as long as i keep up with the payments? For example if I rent the rooms out separately at some point in the future, is there any reason for Capital Home Loans to be informed and would they take issue?
- In the coming months I would like to move home and I am enquiring if I can get consent to let on my house then get a mortgage approval for the new house so I can put in an offer without being part of a chain and then let my property out when I move. Is it likely that Capital Home Loans grant consent to let for 12 months if they know I am wanting to buy a further property or only if I am relocating short term with work?
- After retiring last month I purchased a “retirement home” for my wife and myself to move to. Our intention is to let our current property to our kids and I have therefore contacted Capital Home Loans for consent to let. I was just seeking a general view on whether Capital Home Loans currently allows it?
- I wish to be informed of what the policy is for Capital Home Loans for consent to let. I have come across contradictory suggestions in relation to charges and rates. I need to relocate for work but I don't want to sell the house due to a depressed market.
- Morning? I am just enquiring whether Capital Home Loans offer consent to let as an option should I decided to let out my property under a domestic mortgage. Is there a specific rule for right to buy property and consent to let?
- Hi my partner and I own and live in 2 separate properties can I obtain consent to let from Capital Home Loans and let my studio flat out if I move in with her?
- I was just wondering if Capital Home Loans were picky when giving out consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- I am looking at some alternative lifestyle. I have a Capital Home Loans mortgage, if I become a US resident but wish to rent my UK house, ...what steps should I take to get consent to let. Can this be obtained on via email ?
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General Advice to read in further to the above Capital Home Loans consent to let Advice
Tax and Legal
There are numerous potential 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
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in violation of the lease. This could potentially result in 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 record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Capital Home Loans