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Need professional advice for your consent to let with Hodge Life? 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 Hodge Life consent to lease
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Exciting times as my partner and I are moving to New Zealandin Month, possibly short-term but conceivably longer term. I'm in the process of writing to Hodge Life to obtain consent to let out our home in Hodge Life. The mortgage has been in place with Hodge Life for three years and I have never had any arrears. Hodge Life say, that even if they do agree, that this is a short term consent for one year. What happens after one year?
- Ever since 2013 I have had a Hodge Life mortgage with my twin and want to move on and get a new mortgage with my partner. How would I go about taking in a lodger? Is consent to let required by Hodge Life? My twin will stay in the apartment
- Resulting from a change in personal circumstances my husband and I are housesitting my mum and dad’s house while they are away and letting our home out. We are going to need for consent to let from Hodge Life. Will this be granted? We will need to remortgage in the next twelve months will we then transfer to a BTL mortgage. We will definitely return to our flat at the beginning of 2017?
- Twelve years ago I was granted consent by the local council and my mortgage provider Hodge Life to convert a small barn into a granny annex, conditional on it not being sold separately from the main property. My parents passed away some years ago and I would now like to lease it out with consent to let from Hodge Life. Do you think this can be obtained?
- Do you specifically deal with enquiries regarding Hodge Life or all of them?
- I was just looking into consent to let as it's something potentially I require from Hodge Life within the next 12 months. Our marital situation has changed, and I would like to lease my place out
- My mortgage is presently with Hodge Life and am considering whether to sell or rent in the short term but don't have the equity for a buy to let mortgage at this time. How feasible are consent to let options currently?
- We have an cottage in our garden. Do we need consent to let this from Hodge Life? If so, what is the process if I need to transfer the mortgage to consent to let?
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General Advice to read in conjunction with the above Hodge Life 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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them may trigger your insurance becoming invalid. 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 terms are not adhered to you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Hodge Life your property may be repossessed