Need Help?
Need professional advice for your consent to let with Santander? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Santander consent to lease
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Frank (my fiance) and I may need to rent out our Lewisham home for a while due to a new job. This will be short-term but perhaps for seven years. Do I inform Santander or do I keep schtum?
- I previously got consent to let from Santander three yrs ago but failed to need it and subsequently refinanced with another lender. I recently applied for consent to let. I was told it would be authorised since I met the criteria. I have now got a communication advising me that I must supply evidence from the DWP evidencing that that are aware of my current situation before they can issue authorisation. They said this is policy but I have not been able to find these T&Cs on their site. I did complain about the inference that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £40 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to continue with them
- We are first-time buyers, presently renting. We would ideally like to purchase a three bed flat in Barnet. We want to move there, but will need to wait for a job - perhaps 2-3 years. Would we need to seek a buy-to-let loan? Could we take a normal mortgage with Santander, because we intend to move there soon? Or could we reside there for a short period of time , then start renting it with consent to let from Santander? I'm only evaluating options that are entirely legal, and have no intention of contravening the provisions of the mortgage with Santander.
- I applied for consent but I did not get it as I did a remortgage in June but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some additional criteria that will not be ok. On the other hand I can remortgage with Santander but will they give me consent straight away?
- This is not a question specific to Santander but do lenders usually supply the information I need for my Buy to Let or Consent to Let self-assessment tax returns?
- My work commitments are changing and this could result in mebe in different places every month and in the circumstances I wish to get to grips with the process for applying for consent to let with Santander
- My wife and I want to let our house out and use the rental income to pay rent on a house in Bexley. What are the chances of being given consent to let by Santander without being forced into a new rate.
- I have a standard mortgage with Santander which is only six weeks long but I have been moved abroad with work. Is it possible to obtain consent to let from Santander for a mortgage that has only recently commenced and I have just purchased the property?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Santander consent to let Info
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed 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 inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Santander your property may be repossessed