Need Help?

Need professional advice for your consent to let with Landbay? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Frequently asked questions relating to Landbay consent to lease

  • We have an existing mortgage with Landbay and wish to clarify if it would be possible to seek consent to let out our garden flat in Westminster.

    The purpose for wanting to find tenants for the property are as follows: -

    • Me and my wife will be relocating to Hong Kong early next year.
    • In letting out the house this will enable us to make some savings to support the migration process.
    • It would be pointless from a monetary point of view to redeem the mortgage for a property which we are no longer residing in and by leasing out the property this would be viewed as an ongoing investment.

    If Landbay granted permission to us for renting we would propose some financial assurances which are as follows: -

    • Continue to pay the monthly mortgage payment by standing order.
    • Retain the services of an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Provide our forwarding address for when we emigrate.
  • My girlfriend and I (joint owner) are thinking of remortgaging with Landbay. I was doing some research concerning consent to let from Landbay to understand the rules around potentially letting our existing apartment out (probably in a in a couple of years time) if we moved away. The apartment in question was a first-time purchase for us about three years ago. We are living there now.
  • What is the maximum period of time permitted by Landbay that I would be able to let my property without being required to change mortgage or sell my house? In short, my partner has asked me to move in with him and I really want to hold onto my house. I would like the fallback of knowing I still own my own property.
  • I have been in the armed forces for three years and am looking to buy a home with a Landbay mortgage. I would like to be given consent to let the house to my sister. In years to come I would reside in the property with my wife and kids when my military career comes to an end. Is this achievable?
  • Are you able to help? I am just curious if Landbay offer consent to let as an option if I decided to let out my home under a homeowner mortgage. Is there a specific rule for right to buy property and consent to let?
  • I have a standard mortgage with Landbay - 32% equity or thereabouts. I am considering relocating for another job and was enquiring if Landbay are flexible in changing the mortgage to allow for consent to let?
  • I have just recently purchased my flat and took out a mortgage with Landbay but my boyfriend has asked me to move in with him. Would I be granted consent to let?
  • What are the implication if a borrower has already leased out the property for some years as an HMO and now want to legalise the situation with Landbay by obtaining consent to let ? (assume Landbay had previously issued a homeowner mortgage on it some time ago)