Need Help?
Need professional advice for your consent to let with Habito? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Habito consent to let
- Hello, I have a mortgage on an apartment with Habito and I am contemplating the idea of letting the property out. Could this be done without changing to a BTL or obtaining consent to let from Habito?
- I found tenants for my property last year and didn't tell Habito. I have a five year residential mortgage (significant equity in it, never defaulted) and want to let Habito know and get consent to let for the final two years of my mortgage . Not sure how to go about this.
- Presently my mortgage provider is Habito. Can you point me to where I can download the consent to let application forms from, as we are already renting out the house?
- Am I obliged to inform Habito of my plan to take in a lodger. I have two spare rooms that could be used by lodgers and I was thinking that as the occupancy remains in keeping with that of the 'family' use of the property it might not require consent to let. Can you help clarify? I am taking separate advice on the insurance, legal and tax ramifications.
- I have a mortgage with Habito and am considering letting it for eight weeks while on holiday. Will Habito consent to this?
- Habito - consent to let potential. Can you advise on the process with this lender? Do they have a minimum period prior to changing to this and a minimum LTV?
- I have a mortgage with Habito but would like to rent my house out and move in with my girlfriend and baby what would I have to do to obtain consent to let?
- My husband and I am looking into the option of letting out my property with consent to let from Habito whist away travelling for four months
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Habito 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
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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Habito