Need Help?
Need professional advice for your consent to let with Handelsbanken? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to Handelsbanken consent to lease
-
Just wondered if any of your clients had recent experience seeking Consent to Leasefora year from Handelsbanken or if you have any advice as to how such approval is given.
- I'm presently stuck in a tenancy agreement until May and am buying an apartment. Would my mortgage provider Handelsbanken have an issue with consent to let until my tenancy finishes and then moving in?
- How easy is it to change a residential mortgage with Handelsbanken to a consent to let. It will be less than 55% ltv and it would change from repayment to an interest only loan?
- I am planning to apply for consent to let from my existing mortgage provider Handelsbanken. A colleague of mine said that he was issued with ‘consent to let’ confirmation from a different lender where conditions attached to the consent referred to an AST. Can you explain what this is?
- My mortgage company wont grant consent to let until I have a move in date confirmed with a tenant. How can I confirm this whilst lacking consent to let? I can't be certain but I vaguely recall my friend had a similar issue with Handelsbanken.
- At the moment I do not have consent to let by Handelsbanken but I would like to change to one, An opportunity has arisen which might involve me working away for eighteen months. But want to keep my property for when I come back - are you able to assist?
- Is consent to let a cost efficient way of renting out your property? Isn't this a loophole for some people to exploit?
- Just a quick one. Will Handelsbanken force me into a consent to let product while I'm in a fixed rate product for 2 years?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Handelsbanken consent to let Questions and Answers
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
One thing to remember when arranging a consent to let mortgage with Handelsbanken 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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 Handelsbanken