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.
Sample questions relating to Handelsbanken consent to let
- I am currently choosing a mortgage as FTB and considering Handelsbanken with my financial adviser. Let's say I choose a four year fixed rate I move in the property and after 2 years, I come to get an opportunity of work relocation requiring moving to a different country. In the case Handelsbanken grants me consent to let,does the rate remain the same or would it increase?
- Is it possible to rent out our property in the absence of consent to let from our lender? I know that at the time we signed a declaration stating it wouldn't be a buy to let property and that we are not the owners of other property. I know you can't use help to buy if you owned other premises at the time, but what about property thereafter? Can one acquire a further property, receive a gifted property?
- My partner and I have a fixed mortgage with Handelsbanken (with a little over one year left) but due to redundancy want to move away from London (actually to a new job in France) and so wish to let the property out. We don't want to have the expense of the penalty cancellation of existing mortgage and understand that some lenders are willing to issue this 'consent'...what is the policy adopted by Handelsbanken?
- Do the estate agents we rented through owe us a a legal obligation to have checked that the landlord got consent to let from Handelsbanken?
- I wish to know all the definitive criteria and procedures in place to switch my Handelsbanken mortgage to a consent to let?
- I would like to know if I have a normal mortgage with Handelsbanken and decide to let it out, does the rate change and are there any associated charges for obtaining consent to let.
- Do I need consent to let if I let to a family member (in my situation my Dad now lives there and contributes towards the Handelsbanken mortgage)?
- I am looking at some alternative lifestyle. I have a Handelsbanken mortgage, if I become a US resident but wish to rent my UK house, do I need to get consent to let from Handelsbanken to do this ?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Handelsbanken consent to let Info
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
Failure 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 obtain the consent of the freeholder. If such conditions are not complied with you may be in breach 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 taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Handelsbanken