Need Help?

Need professional advice for your consent to let with Chelsea Building Society (a trading name of Yorkshire BS)? 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: Chelsea Building Society consent to let

  • I purchased a house three years ago in Sunderland when I worked locally. I got a new job which necessitated working in Wimbledon. I drive down on Saturday afternoon and live with a relative during the week. I decided onmoving home to avoid the commute. I am considering the option of renting out my current home. My mortgage is with Chelsea Building Society, would I have to change my mortgage rate or should I try to get consent to let?
  • I understand the capital gains tax financial repercussions if any of switching a Chelsea Building Society mortgage to consent to let, but what about the ongoing rental revenue vs outgoings? Say I changed my former owned maisonette into CTL and moved out and pay rent elsewhere. Is it legitimate to expense the rent I am paying from the rental revenue?
  • My fixed rate mortgage with Chelsea Building Society expires June 2017 and I wish to fix for a further 4 years with Chelsea Building Society, hopefully rates will still be low. In in next couple of years I may want to move temporarily to a different county. How problematic is it to get consent to let by Chelsea Building Society in this situation? I would be coming back at the end of the two years to reside in my property.
  • I'm looking to remortgage my maisonette, currently let out with consent to let from Chelsea Building Society, onto a BTL rate as we are unlikely to be moving back into it now since we have our family home. So, I'm assuming I need a specialist financial adviser for this and I am not really au fait with what is on offer in this area. Are you able to offer any advice on an efficient broker service specialising in BTL?
  • My circumstances have changed, and I would like to rent my place out - meaning consent to let- I have about £200K loan with Chelsea Building Society and currently 90k equity I need to side-step the redemption penalties.
  • We have a mortgage with Chelsea Building Society at the moment and just enquiring if there any costs for obtaining consent to let
  • Will Chelsea Building Society choose to exercise a right to switch the rates on a owner-occupier mortgage where Consent to Let at any time, onto ‘rates equivalent to their B2L range'? Is it possible to refinance on a consent to let with Chelsea Building Society?
  • I could potentially need consent to let from Chelsea Building Society in the future with work. I am just looking to see what the options would be if this was the case. Are there any time restrictions on the length you can let out your property with consent?