Need Help?
Need professional advice for your consent to let with Gen H? 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 Gen H consent to lease
- What information do Gen H expect to have to make a decision on consent to let. I am on a 3 year fix with them. I have never defaulted in payments. I am planning a move to Croydon due to the family getting bigger. My financial circumstances have not deteriorated and in fact my salary has increased by 20% since I took the mortgage out.
- My wife and I purchased a house ten years ago on shared ownership basis, I own half via bank loan and rent the other percentage. Last year I bought a new house. I rented out my first property and moved to my new property. I secured consent to let from my lender and I believed I had consent to let from the housing association. Last week I was contacted by the housing association saying they had nothing on record indicating I had attained consent to sublet. What are my options?
- Where a landlord opts to lease out their property without consent to let by Gen H - what, if any implication could there be for an agent acting for the landlord?
- As we are relocating and failing to find a buyer for our property, we are thinking about renting it out. Is it imperative to advise Gen H? If we do, I think they will want to change our mortgage to buy to let and increase rate which we can't afford. I thought if you continued paying on time it shouldn't be a problem, but am now nervous about insurance connotations if we haven't got consent to let. Any feedback?
- I want to take in lodgers for my one bed flat in Lambeth which I live in. My mortgage is with Gen H. Will they grant consent to let?
- What information should I include in a letter requesting consent to let my house in Lewisham? I would like to send a request to my mortgage provider Gen H.
- Do you know if I can keep my current residential mortgage with Gen H if I start renting out? If the consent to let is granted will they load the interest rate?
- I own a leasehold flat. I would like remortgage with Gen H and either change to buy to let or consent to let. I'm still inside the redemption penalty period so not sure if there such a thing as porting to some property?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Gen H consent to let information
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
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 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
Neglecting 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.
If you do not keep up the payments on your mortgage with Gen H your property may be repossessed