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
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For the last few months I have been letting out my flat in Harrow. I didn't request consent to let. I moved to Surrey for a job opportunity and was unable to cope with the traveling but was worried that Habito would charge me a small fortune so I decided to take the risk. I'm hoping to legitimise it now... basically continue leasing it but with consent. What course of action do I take now?
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I have been letting out my flat with "consent to let" from Habito on a standard mortgage for the last three years. Habito have just written revoking consent to let if we do not swap to one of their "buy to let" products.
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What options are open to me if my application for consent to let is turned down by Habito?
- We have a flat in Brent which we acquired as a new-build about eight years ago. As childen are growing up we need a bigger place. We've found a property in Bromley that we're going to buy and want to keep the flat as an investment to rent out. The mortgage is with Habito and we've found a tenant who will pay rent in excess of the monthly mortgage amount. Our query is, can we retain the repayment mortgage with Habito so we effectively paying off our loan on the property or do we have to swap to a buy-to-let mortgage?
- I am looking to get consent to let on my Waltham Forest apartment from Habito. I will be going abroad for a period of time so wish to know if I can let my apartment
- Due to work opportunities I will be moving to Scotland and would like to rent the flat temporarily, are you able to confirm what action I need to take in order to obtain consent to let from Habito?
- I own a house in Bexley. I would like remortgage with Habito and either change to buy to let or consent to let. I'm still within the redemption penalty period so not sure if I would need to pay that?
- I am looking at an offer to work in France and have been advised that I need to let Habito know so my mortgage is under consent to let? Please could you clarify the best way to go about this?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with the above Habito consent to let Questions and Answers
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
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
If your property is leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to 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 commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Habito your property may be repossessed