Need Help?
Need professional advice for your consent to let with Harpenden Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Top Five Questions relating to Harpenden Building Society consent to lease
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I have a homeowner mortgage over my residence in loc with the intention of moving overseas to country for two years. During this time it makes financial sense to rent out my flat. My lender is withholding consent to let. I wish to avoid taking out a buy to let mortgage as it’s only a short term option that I am going away for.
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Harpenden Building Society have just granted me consent to let. After some effort, Harpenden Building Society have issued me with ‘consent to let’ confirmation . There is reference to an assured shorthold tenancy. What is that?
- Is it possible? I have a Harpenden Building Society mortgage on my house (with fair amount of equity). We are planning to move out of Bristol and if at all possible wish to let our house with consent to let from Harpenden Building Society and use the income from that to help get approval for a second mortgage for a house to live in. What is the best way to fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
- I acquired my studio flat in Bromley one year ago and have a three year fixed rate mortgage with Harpenden Building Society. Looking to move in with my other half within the next 6 months and wish to let out my property. Just want to know the process.
- Prospective tenants are about to move into my property and I have mortgage offer from Harpenden Building Society on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- We have a mortgage with Harpenden Building Society on our 2 bed flat in Camden. We are hoping to buy a new house to move into. How do I switch my existing mortgage on to consent to let?
- I recently bought a one bedroom second floor purpose built maisonette in Hillingdon. I am first time buyer. I am moving Glasgow next month, can I get consent to let from my lender Harpenden Building Society or do need to wait for at least 6 months?
- I am enquiring as to whether there are any restrictions in obtaining consent to let on a leasehold property when I have a mortgage with Harpenden Building Society
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Harpenden Building Society 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
One thing to remember when arranging a consent to let mortgage with Harpenden Building Society 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 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 violation 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Harpenden Building Society