Consent-to-let Help for Barnsley Building Society (Yorkshire Building Society)

Frequently asked questions relating to Barnsley Building Society consent to lease

• Having endured living in a rough area for 3 years now, we are now looking to move. As disposing of the property will result in redemption penalties to Barnsley Building Society of £3500, we thought that it would best to rent it out. In the circumstances we need consent to let from Barnsley Building Society only a year. What can I do to get consent?

• We have an existing mortgage with Barnsley Building Society and need clarify if it would be possible to gain consent to let out our garden flat in Haringey.

  The rationale for wanting to find tenants for the property are are due to: -

  • My family and I will be relocating to Melbourne next spring.
  • In renting out the property this will enable us to make some savings to support the migration process.
  • There is little merit from a financial perspective to redeem the mortgage for a property which we are not living and by leasing out the place this would be viewed as an ongoing investment.

  If Barnsley Building Society granted permission to us for renting we would propose some financial assurances to include: -

  • Continue to pay the monthly mortgage payment directly from my bank account.
  • Retain the services of an accredited letting agent who will provide a rent guarantee scheme as a further financial safeguard.
  • Provide our forwarding address for when we relocate.
• I have a mortgage with Barnsley Building Society however my husband and I will be relocating to Cape Town in January. The mortgage is in my name yet it is my husband's job that is taking us abroad how do I answer the question: 'please indicate why you wish to let the property':
• About twelve weeks ago I moved out my house in a hurry and let out the property. I know I needed consent to let by Barnsley Building Society but was unsure what the future would hold and it slipped my mind to get consent. I find myself in a situation where I want to sell that house and transfer the Barnsley Building Society mortgage to a new flat. I can't see a path to do this without leaving myself at the behest of Barnsley Building Society for failing to obtain consent to let. When porting, at the time of selling, you must say you intend to "port the rate" and go through fresh set of affordability checks. While I have no issues with affordability, the credit check may reveal I don't live there any more.
• What are the circumstances under which Barnsley Building Society would refuse a request for consent to let?
• My Barnsley Building Society mortgage rate is up next September can I switch to a interest only with consent to let?
• I took a domestic mortgage with Barnsley Building Society, and I would like to lease the property out, until I decide whether to sell or keep it as an investment. As things stand I am on the standard variable rate. Will I need to remortgage? I.E. buy to let?
• I would like some guidance on how best to approach my mortgage company Barnsley Building Society regarding a 'Consent-to-Let' application. Is this a task you can offer guidance on ?