Need Help?

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

Questions and Answers: Bluestone Mortgages consent to let

  • I have a ground floor flat in Haringey let out which has a seventy year lease. Mortgage adviser suggested I should refinance (currently with Bluestone Mortgages) as a buy to let instead of consent to let and release 45-55k which on top of a new mortgage based on income multiples would give me a budget of £195k. Limited available in Southwark for me to buy my own house. To extend the lease will be in region of 13k. Lease out with consent to let or sell the flat?
  • Earlier this year I rented out my garden flat and have gained a Consent to Let with my bank. 6 months have now gone by and they have loaded my repayment percentage as previously advised. I cannot port to a more favourable product with them, as they will revoke my consent to let. Were I to go with another provider such as Bluestone Mortgages, would I be required to obtain a BTL loan or could I simply remortgage and ask for further consent to let?
  • I have a current mortgage contract with Bluestone Mortgages and need clarify if it would be possible to gain consent to let out our garden flat in Waltham Forest.

    The purpose for wanting to let out the property are are due to: -

    • My wife and I will be moving to Melbourne in 3 months.
    • In letting out the house this will enable us to make some savings to help the migration process.
    • It would be pointless from a monetary perspective to redeem the mortgage for a property which we are not living and by leasing out the place this would be considered as continuing investment.

    If Bluestone Mortgages agreed that we are able to proceed with renting we would suggest some financial commitments which are as follows: -

    • Continue to pay the monthly mortgage payment by direct debit.
    • Instruct an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Supply our forwarding address for when we relocate.
  • We are currently in Melbourne and renting out our flat in Croydon. This is not something we planned but an opportunity arose and we took it. The rental income is not enough to cover the mortgage so we send back funds each month to make up the shortfall. Earlier today I got a letter in the post from our lender informing me that as the property is being let out and has been for almost four years we will have to pay 1.5% interest in addition to our current mortgage rate. One option is to sell the flat but this will be difficult as I am so far away. Could we remortgage with Bluestone Mortgages and get consent to let?
  • Do I need to wait for consent to let to be granted on my existing domestic mortgage with Bluestone Mortgages before applying for a resi mortgage on a new property?
  • Me and my wife have a mortgage with Bluestone Mortgages but am informed they have a stipulation that they do not give consent to let the property to a local authority. Is this correct and if so, can you suggest a method round this?
  • Do I require consent to let if I rent to a family member (in my situation my Dad now lives there and contributes towards the Bluestone Mortgages mortgage)?
  • I am a Bluestone Mortgages borrower. I would like to apply for consent to let my property. I have been waiting for Bluestone Mortgages to get back to me. Are you able to please check and help?