Halifax - Consent to Lease offer?

bobby_davro_2

bobby_davro wrote: »

Yes, but from the advice above, it seems if you move to a 2 year fixed rate product of 4.5%, and then 2 months later ask for CTL, then you stay on the same rate!
This is great news.
Does anyone know if Halifax will grant ALL CTL applications, or do you have to prove why you need it? i.e had to move location with work
Thanks

Hi, it's been 6 months since original thread and i see halifax can now lock you in for 4 years at 4.49%

Will the technique mentioned earlier in the thread still work as expected? Anyone had sucess with this?
Thanks

Thrugelmir

bobby_davro wrote: »

Hi, it's been 6 months since original thread and i see halifax can now lock you in for 4 years at 4.49%

Will the technique mentioned earlier in the thread still work as expected? Anyone had sucess with this?
Thanks

From the website.

Leasing/renting out a property

If you want to lease/rent your home out to somebody else, please call Mortgage Servicing on 0845 602 9717 (option 1) to be directed to the team who can tell you if we agree to the proposed letting, and what our requirements are.

Lines are open 8am to 8pm Monday to Friday, and 9am to 4pm on Saturdays.

kingstreet

bobby_davro wrote: »

Hi, it's been 6 months since original thread and i see halifax can now lock you in for 4 years at 4.49%

Will the technique mentioned earlier in the thread still work as expected? Anyone had sucess with this?
Thanks

Is that the residential product transfer offer or the CTL product?

I have heard nothing about a change of policy. AFAIK you still get to see out the remainder of your residential rate/period when first granted CTL.

davey-d_2

Hi there,

Sorry to hijack this thread but as there are very recent entries on it, and as my question also relates to a Halifax consent to lease, I thought it might be appropriate to anyone else in a similar position.

Halifax have just written to me confirming my discussions with them over the renewal of my CTL and asking me to call them again regardless of whether I am continuing to rent my property or not (which I am). In it, they say that if they don't hear from me they will assume it has been rent without consent. As such, they will charge me an added rate of 1% on top of the variable base rate (which is actually one of the options I was given by the branch advisor in my previous discussions with them, and the one a confirmed I wanted given it was much cheaper than taking out a new CTL). However, the letter also says that in addition they will treat any tenancy granted as unauthorised. This is the first time they have said that last bit to me.

So, my question is this. By adding the 1% is this Halifax's way of penalising me for letting without its consent fully and finally (i.e. with no further action being taken such as calling in the mortgage etc)? Or am I still at risk of further and more significant action from Halifax as and when they decide to? I think you can see where I'm going with this!

Any comments or suggestions gratefully received.

Thrugelmir

davey-d wrote: »

Or am I still at risk of further and more significant action from Halifax as and when they decide to?

Potentially yes. As you are clearly in breach of contractual terms. If you fail to take any action. Then Halifax could commence repossession proceedings against you.

In addition you may find yourself blacklisted on the NationalHunter database.

qwertyqwerty

@bobbydavro "Hi, it's been 6 months since original thread and i see halifax can now lock you in for 4 years at 4.49%"

Its that time when i am going to seek permission agan to CTL, is this a CTL offer on a SVR rate or an offer after you switched to a diferent product? If the former then CTL seems like a good deal, what was the product fee for this?

kingstreet

Product transfer rates range from 2.89% fixed for two years at 60% LTV to 4.49% fixed for four years and these are residential only.

Halifax doesn't publish its CTL rates.

clairenw

Hi

Does anyone know what the current rules are if I want to consent to let? I have a 2 year fixed rate repayment mortgage with the Halifax. I have 1 year left, and early redemption fees will be 2% of the loan value. I believe that I can't even transfer this mortgage to another property, or switch to a different mortgage plan with the Halifax.

What's the best way to go about this?

Thanks

kingstreet

If you request consent to let, you'll be allowed to stay on your current product until it ends.

When that happens, Halifax will want you to switch to one of its consent to let products, which are typically around 6% fixed for three years, with a £999 fee.

If you don't yet need consent, if you see out your current offer, then request a product transfer before you request consent, you can get another period on a residential product, before having to switch to the special CTL rates.

clairenw

Thanks! So the best way, if I can wait, is to get another mortgage deal in a year - perhaps a longer term fixed rate if I can, and then do CTL and that way not be stung by the 6%? Is that what you're saying?

If that's the case, then there really wouldn't be a need to stick with the Halifax next year, unless there's good reason to, would there?

Thanks in advance