Need Help?
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.
Recently asked questions relating to Hodge Life consent to lease
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Helen (my partner) and I may need to let our Islington home for a while due to a career opportunity. This will be for a limited period but possibly for as long as 6 years. Should I tell Hodge Life or do I just keep quiet?
- Can you please tell me what Hodge Life charge for consent to let out a room in my maisonette? Any insights would be gratefully received.
- I have found myself in the accidental landlord category and failed to inform Hodge Life. I had to vacate my home for work reasons, so now rent in another part of the country. At first I attempted to sell the flat, but prices were deflated, resulting in negative equity. This was four years ago in 2012, the value has increased and has given me time to accumulate savings. I am in now in a position where I could switch to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Hodge Life that I have been letting without consent to let? I am aware that I shouldn’t have done what I did, but circumstances backed me into a corner. Have I committed a criminal offence?
- I am planning to lease out my property for 12 months from 9th July 2016. Is there conventional wording for a letter I can use to write to Hodge Life to request consent to let.
- I am endeavouring to discover which lenders are best for giving consent-to-let without hiking up rates, and hopefully allowing in excess of 2 years if necessary. Is that something you can help with? We are particularly interested in Hodge Life
- How do I go about securing consent to let from Hodge Life? Is there certain requirements like you have to live in the property for over 9 or 12 months before its granted?
- I am currently remortgaging and looking at flexibility of certain mortgage providers when it comes to consent to let. Hodge Life is one of the mortgage companies I am considering. How accommodating are they when it comes to consent to let?
- I'm considering a remortgage offer with Hodge Life and it's likely I will end up asking for consent to let at some point in the fixed period. Are there any fees I should be aware of?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Hodge Life 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 Hodge Life 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 restrictions are not strictly observed you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them commencing legal proceedings 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 Hodge Life