Need Help?
Need professional advice for your consent to let with Hampden & Co plc? 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 Hampden consent to let
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My better half and I are moving to Dubaiin Month, possibly temporarily but it could be longer term. We have just applied to Hampden to obtain consent to let out my property (we have already found tenants). I have been with Hampden for three years and no payments have ever been missed. Hampden advise, that even if they consent to the letting, that this will be limited consent for a period of twelve months. And then what?
- I own a 2 bed leasehold maisonette with a Hampden mortgage and have a lodger sharing with me. I am about to relocate to Croydon and will look for a property to rent. My lodger wishes to stay and has agreed to pay an increased rent. Am I obliged to apply for consent to let via Hampden?
- Much to my surprise I have just been presented with an excellent career opportunity for 6 months in Denmark. I have enough money to cover the monthly Hampden mortgage however the buildings insurance stipulates that the property must be occupied in order not to be invalidated. Last winter the roof was damaged but repaired. Should there be any problems in the winter months I would struggle to afford remedial works. Would I be eligible for consent to let from Hampden for a limited period?
- My solicitors have served eviction orders on a tenant who had not paid his rent in 3 months. A Section 21 and section 8 have been served. The tenant's defense for non payment is built on the claim that I I failed to obtain consent to let my maisonette from my lender Hampden
- Will Hampden want to know my reasons for applying for consent to let? Should I disclose my possible relocation overseas?
- I am endeavouring to find out which lenders are best for allowing consent-to-let without hiking up rates, and hopefully permitting more than 2 years where required. Is that something you can help with? We are particularly interested in Hampden
- I'm possibly going to Aus for twelve months with work. Planning on taking the husband with me and hoping to rent our Wandsworth property in the meantime on a short term basis to make matters more cost effective. I was just enquiring where I can I get a consent to application form from
- I am already leasing out my flat but may have sussed what has been going on. I have five months left on my fixed rate. How easy is it to get consent to let from Hampden. Is it just a quick phone call, pay the fee and it's done there and then?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Hampden consent to let Info
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
One thing to remember when arranging a consent to let mortgage with Hampden is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your standard residential buildings insurance. 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 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 restrictions are not strictly observed you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Hampden