Need Help?
Need professional advice for your consent to let with HSBC Bank plc? 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 HSBC consent to let
- I have a HSBC mortgage on a flat I own, in Westminster. Last month, resulting from a change in my circumstances I decided to let out the flat, and rent an alternative property in a different area within same loc. The personal situation that altered is that I started cohabiting with my partner, and the flat is not large enough for our needs. I do not wish to sell the flat because the current market value is significantly lower than the market value when I bought the flat ten years ago. I wrote to HSBC for a consent to let which was turned down as they felt that I wanted to invest in the flat. The whole process was very confusing. There is a sense of urgencybecause there is already a prospective tenant waiting for this consent to let and could withdraw.Please call me to discuss
- We I have a residential mortgage with HSBC but I would like to occasionally let the property out on AirBnB....am I obliged to obtain consent to let from HSBC?
- Having spent 17 years in London, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to renew our mortgage with HSBC. In the relocation destination, we are be looking at a 3-bed house around the £275k mark. I would preferably like to retain my existing apartment. Could I ask for Consent to Let from the proposed new lender HSBC. If granted what are the likely conditions?
- I have had a home loan with HSBC for since 2009. My divorce went through four years ago put the property in my name by transfer of equity. My situation has changed, I would like to keep my house but move in with my new partner, leasing my house out. It has been suggested by my IFA that I can ask for a consent to let by HSBC rather than a BTL mortgage as I I did not buy the house in the first place in order to let, advice please?
- It would be helpful to know if on the balance of probabilities HSBC will grant consent to let out our residential property in Tower Hamlets
- I was just curious as to whether HSBC would grant consent to let and what kind of charges, penalties and new rates etc
- I have only recently completed my homeloan with HSBC since when my boyfriend has proposed and we are deciding whether to reside in his house or my property. Would I be granted consent to let if I decided to move in with him
- One year into a homeloan with HSBC due to work reasons need to move. Is it possible to get buy to let or consent to let.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above HSBC consent to let Questions and Answers
Tax and Legal
There are numerous potential 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
If 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 result in 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 obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in 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 HSBC your property may be repossessed