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

ASTRA mortgages consent to let: Q and A’s

  • I have had a mortgage for eight years with ASTRA mortgages. My partner has bought a property in Wandsworth and I have the opportunity to move in with him. Can I lease out my apartment with consent to let in case I need to move back? Also what legal paperwork must I provide ASTRA mortgages with when filling in the consent to let application?
  • Me and my wife and I may need to rent out our home for a while due to a career opportunity. As we will be away for no more than twelve months would we need a consent to let our home. We already have a ASTRA mortgages mortgage. What costs are levied and is there a time limit on consent to let?
  • I have recently been provided with a career opportunity abroad and wondering if it's a good idea renting my house out. Will ASTRA mortgages permit me to switch mortgage or grant consent to let? If not I will have to consider if I should accept the promotion. I wouldn't mind paying more as it is likely that I will come back and live in my home after twenty four months. I'm not doing it to profit. Just love my house and want to return to it at some point in the future.
  • I want a bit of preliminary feedback to see consent to let is a feasible option. I completed the purchase of my flat 6 months ago by porting an existing ASTRA mortgages mortgage product. My fixed rate ended four months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with ASTRA mortgages, which I would not seek to be added to. I don't wish to sell my property yet because I'm unsure of whether the new move will work out. I don't want to transfer to a B2L mortgage yet for 2 reasons: 1) I need to discover if it is a marketable property with rents higher than my mortgage payments and 2) I need to raise additional capital to meet the 65% LTV ratio required for a BTL mortgage. Ideally I would like to get a consent to let from ASTRA mortgages for 1-2 years in order to be more secure in becoming a possible landlord and to generate the capital. If at the end of the consent to let period I was unsure I would probably either sell my property or, depending on the new relationship working out, move back to it.
  • Just curious as to whether it is possible if you own one property with consent to let from ASTRA mortgages, to buy another with a residential mortgage to live in. Then once the consent runs out on the first property, to switch to buy to let or sell it?
  • I want to purchase a new home but can't afford to sell my current flat with a ASTRA mortgages mortgage. Do you know the criteria for ASTRA mortgages to give consent to let? Is getting married and having kids a sufficient reason to seek consent?
  • ASTRA mortgages - consent to let potential. Can you advise on the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
  • Last month I completed on a property with a ASTRA mortgages mortgage. However I am currently living with parents. I don't want to move in until September 2017 due to some family reasons. In meantime can I lease out the property with consent to let?