Halifax - Consent to Let - options

keogh_b

Thanks Everyone

theartfullodger - I am not asking for advice on wether i should be dishonest.

I was looking to know if there were any other ways of approaching the Halifax to put my case forward, could i employ a solicitor, the Citizens Advice Burearu, the Financial Ombudsman, etc. My case is very simple;

I cannot afford to stay in my house;

I cannot afford the terms for the Halifax "consent to let" agreement;

If there are no other options available to me, it will be either rent the house without their consent or sell the house.

Can anyone tell me how I can find out if i can take lodgers legally and within the confines of my current mortgage agreement? Is it simply a case of contacting the Halifax or is it permitted within the owner-occupier agreement?

Thanks

bristol_pilot

Why not simply let out a room to a lodger under the rent-a-room scheme (which will make your rent tax-free up to the limit of £4,250 and there is nothing the Halifax can do to stop you), then travel back and spend 1 night per month in the property so that it remains occupied by you. This would tide you over until you are settled in a new job, then you can sell up and relocate.

CloudCuckooLand

new_home_owner wrote: »

yes thats about reposessions it says nothing about not getting consent to let

There are none so blind, as those who will not see...


"The main purpose of the Bill is to offer protection to tenants of rental properties whose landlord has both defaulted on his mortgage and not notified his lender that the property was being let (an 'unauthorised tenancy')."

theartfullodger

I cannot afford to stay in my house;

I cannot afford the terms for the Halifax "consent to let" agreement;

If there are no other options available to me, it will be either rent the house without their consent or sell the house.

Sell house, then if necessary (for anyone else in a bigger 'ole than this one) consider declaring yourself bankrupt and then starting again with a clean sheet.

As you say you don't want advice on being dishonest (well you got it, not telling lender would be dishonest IMHO): there are often listed 4 entities never to be dishonest with, and I'm sure you haven't/wouldn't...
- Your kids, if any
- Your partner, if any
- Your God, if any
- Yourself..


Sometimes our plans in life work out, sometimes they don't. No doubt others posting here have had financial setbacks in their life (I have a couple of times..) but there's (Oh!! heresy on MSE....) more important things than money...


End of sermon (well, it is Sunday)!

Cheers & hope it works out...

Lodger
(Antitheist, and with many a stain against my character/record)

silvercar

If anyone had been taken to court, let alone a judge actually allowing possession, for letting without consent, the case would be quoted all over the internet. It hasn't happened. It wouldn't be a criminal offence, it would be a civil matter between the lender and the borrower. The lender would have to decide to incur court costs in pursuing this. The damages, if they were awarded, would be zero as the lender can't show a loss.

silvercar

From a tenant's point of view, CTL is not all its cracked up to be. What happens when the CTL runs out? The tenant is within the contract term but there is no longer CTL, life continues.
As people point out CTL means the lender in possession won't evict during the fixed term, but they will evict as the term ends. They will also only attend to emergencies and maintenance that are legally required or breach health and safety law, they won't go above these requirements.
If tenants believe that CTL gives them much security they are wrong, better to get a property with a decent landlord, not likely to be repossessed and where there is a proper BTL mortgage.

Sunshine12

I was in same situation as you are with halifax and they offered me a 3 year no tie in rate of around 5.5% with £600 arrangement fee. Wasnt that long ago. They would let me stay on variable either. I wouldnt suggest doing anything without consent.

vickitoria6232

Im in a similar situation, I went to see a mortgage advisor...he was very helpful in weighing up my options. I agree Halifax rates are stupid; we arent looking to make money at all, we're starting a family and have a 1bed flat we cant sell...

Many advisor's initial advice is free, make an app.