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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.
Frequently asked questions relating to Capital Home Loans consent to lease
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My husband and I bought a terraced property in 2011 for just under 200,000 with Capital Home Loans. My husbands career requires that we move to Qatar and appreciate that I have to obtain consent to let from Capital Home Loans. Will they give permission?
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I'm about to apply to Capital Home Loans to obtain consent to let out my property in Capital Home Loans. However I currently have the property for sale but there are no takers and paying a full mortgage, council tax and insurance on unoccupied house is exhausting my finances. What position would Capital Home Loans take if I market the property?
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My lender has placed me in a difficult predicament with a Consent to Let mortgage. In response to requesting consent to let the lender has requested evidence of a signed AST before they will grant consent. Is is not the case that if I adhered to their request that I would be violating the lender’s terms and conditions?
- We have a standard variable rate mortgage with Capital Home Loans. This has been in place for three years. We are considering renting out our property and renting in a village near our son's school until a suitable home becomes available to purchase. Do Capital Home Loans usually give consent to let and if so, are there any financial consequences?
- This is not a question specific to Capital Home Loans but do lenders usually provide the information I need for my Buy to Let or Consent to Let self-assessment tax returns?
- I have split up with my wife and we have moved back in with our respective parents and plan to divorce. What do I have to do to get Capital Home Loans to give consent to let the property out to tenants?
- I currently have a residential mortgage with Capital Home Loans and plan on letting due to work being based in Manchester. In seeking consent to let from Capital Home Loans do I run the risk of them forcing me to change deal to BTL
- I might potentially need consent to let from Capital Home Loans in the future with work. I am just looking to see what the options would be if this was the case. Is there a limit on how long you can let out a property with consent?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Capital Home Loans 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 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 breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Capital Home Loans