Consent-to-let Help for Cambridge Building Society

Sample questions relating to Cambridge Building Society consent to let

• I want a bit of initial advice to see consent to let is a viable proposition. I bought my flat 7 months ago by transferring an existing Cambridge Building Society mortgage product. My fixed rate finished four months ago. I'm currently deliberating moving in with a new partner who has his own property and mortgage also with Cambridge Building Society, which I would not seek to be added to. I don't want 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 buy to let 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 come up with extra capital to satisfy the 65% LTV ratio required for a buy to let loan. It would be preferable to receive consent to let from Cambridge Building Society for 1-2 years in order to be more secure in becoming a possible landlord and to raise 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.
• A friend of mine recently sought CTL from the Woolwich which they declined citing that the mortgage had not been in place for even half a year. I am about to ask for consent to let from Cambridge Building Society. Do they have the same rule?
• Is it possible? I have a Cambridge Building Society mortgage on my house (with a large chunk of equity). We are planning to move out of Cambridge and if at all possible want to rent out our house with consent to let from Cambridge Building Society and use the income from that to help get approval for a second mortgage for a house to live in. How can I fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
• My fiance have an offer accepted to buy a property, we have a deposit of between 20-25% for a standard mortgage with Cambridge Building Society. The one concern is we may leave the country in two months for work. We are going through our mortgage broker. He says if you tell this to the lender up front we will need to get a buy to let. Do go ahead with residential mortgage with Cambridge Building Society, in a couple of months seek consent to let? Alternatively, do we try and speak to Cambridge Building Society at this point and reveal there is a chance we will move abroad in the future (nothing is confirmed concerning the move abroad) and see if they confirm in advance that it should not be an issue
• My fiance and I purchased a property in Bristol with Cambridge Building Society and am moving to rent a property in Somerset due to work. Is consent to let from Cambridge Building Societypossible? I only want to let out the flat for half a year before selling.
• As a result of career opportunities I will be relocating to Scotland and would like to rent the flat temporarily, please let me know what action I need to take in order to get consent to let from Cambridge Building Society?
• My Cambridge Building Society mortgage rate finishes this June can I go on a interest only with consent to let?
• I would like to find out more about how to get consent to let on a property. In particular what is the procedure for consent to let if you have a homeowner mortgage with Cambridge Building Society