Halifax refusing consent to lease

Tbonetone

Hi all.

Seen a few posts along these lines but nothing too recent. My partner and I want to move in to my house and rent her flat out. However, Halifax claim that the flat is in negative equity and, even though the mortgage is easily payable as she is still in full time employment, they are refusing to allow a consent to lease. This makes no sense to me. The flat will realise £200 per month more in rent than the current mortgage payments. Halifax claim that as there is no need to move i.e. change of job location, they cannot accept the consent to lease. Their current Buy to let is up to 75% LTV which ain't gonna happen either. Between us, we cannot save money by moving in together. Also my own mortgage goes down in December so we will be financially more able to cover the mortgage on the flat even if we loose a tenant etc. Help! Any ideas? Cheers.

beecher

Rent your own house out and move into the flat? Then overpay like mad on the flat to try to get it out of negative equity and sell it.

Tbonetone

Hmm. House also in negative equity and flat only a 1 bed!! Nightmare.Surely there must be some mileage in pushing Halifax? Is there not some sort of legal recourse? I guess not...

Pring

I was told something similar by the first adviser I spoke to at Halifax. I insisted on speaking else who told me that they base their criteria on 'necessity' of the move.

So it all comes down to how the person you speak to defines necessity.

I was able to successfully argue that it was absolutely necessary that I move in with my girlfriend and they allowed me to rent it out.

Tbonetone

Thanks NeilInglis.

Sounds like good advice. Think we'll write to Halifax Head Office as well - by pass these branch "sales advisors". Will let the Forum know the result!