Need Help?
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.
Examples of recent questions relating to Capital Home Loans consent to let
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I have a residential mortgage coming up for renewal with Capital Home Loans. The property has been sub-let for a two years and I now realise that I need to notifyCapital Home Loans. My understanding is that I can ask for a consent to lease, but bearing in mind that the property has previously been let out could they decline - insist I go onto a BTL rate or even fine me? I have over 25% equity in the house - and the rent will more than cover the mortgage.
- Can you please inform me what Capital Home Loans charge for consent to let out a room in my two bedroom ground floor purpose built maisonette? Any insights would be gratefully received.
- Am applying for a mortgage with Capital Home Loans, but we hit a brick wall. My husband is a teacher in a boarding school, whereby accommodation is a perk of the job. We wish to buy a maisonette with a view to joining the property ladder, and let it out while we're based at the school. I had thought Capital Home Loans would grant consent to let from day one of the mortgage. It transpires that we may not be granted consent to let. Can you give me any advice?
- I have been stupid in failing to inform Capital Home Loans that I’m renting my flat out. Ideally I would like to do the right thing with as little consequence as possible. If Capital Home Loans says yes, what are the chances of them figuring out historically that the property was let without consent?
- I am looking to Capital Home Loans to grant consent to let out my studio flat in Barnet. I am moving to care for my elderly father who has liver failure
- I’m about to finish the fixed rate period of my three year fix with Capital Home Loans and switch on to the standard variable rate. I would like to know if consent to let by Capital Home Loans is a foregone conclusion, if there are cost, and if there conditions?
- I am intending on moving inside the next 6 months and want to let my house out. My mortgage rate is fixed with Capital Home Loans. I am concerned that a rate hike would be too much if that was linked to receiving consent to let
- We have an cottage in our garden. Do we need consent to let this from Capital Home Loans? If so, what is the process if I wish to transfer the mortgage to consent to let?
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Important warnings to consider in further to 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
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from 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
Neglecting 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 Capital Home Loans