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Need professional advice for your consent to let with Coutts? 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: Coutts & Co consent to let

  • I have a Coutts & Co mortgage on an apartment I own, in Lambeth. Last month, resulting from a change in personal circumstances I decided to let out this apartment, and rent an alternative property in a different area within same loc. The state of affairs that altered is that my partner moved in, and the flat is too small for us. I do not want to try to dispose of the flat because the current market value is 15% less than the market value when I bought the flat ten years ago. I contacted Coutts & Co for a consent to let which was turned down as they considered that I wanted to invest in the flat. Any insight would be greatly appreciated, as i am at the end of my tether. There is a sense of urgencybecause there is already a prospective tenant waiting for this consent to let and could withdraw.I look forward to hearing from you
  • I would like to let my 2 bed flat out from mid Nov this year as I will be going for a few months. I have a domestic mortgage with Coutts & Co. I will not be letting for more than 6 months. Most likely it will be 4-5 months. I have been told to get permission from my freeholder first? Please can you suggest what I should be doing in what order?
  • I am looking for some initial feedback as to whether consent to let is a sensible option. I completed the purchase of my apartment 8 months ago by porting an existing Coutts & Co mortgage product. My fixed rate came to an end 4 months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with Coutts & Co, 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 move to a B2L mortgage yet for 2 reasons: 1) I need to find out whether letting my property is a feasible option for myself and 2) I need to find extra capital to meet the 65% LTV ratio required for a buy to let loan. Ideally I would like to receive consent to let from Coutts & Co 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, reoccupy it.
  • We are planning to make use of equity in my existing house to buy another property which I propose to live in whilst I renovate it. My preference is to rent my existing property with the Coutts & Co homeloan. Is it likely that I will obtain consent to let? House is worth £300 k with a £125k home loan in place.
  • I was just enquiring if Coutts & Co were picky when giving out consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
  • Is it possible to remortgage with Coutts & Co with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
  • My work commitments are changing and this could result in mebe in different places every month and as such I wish to get to grips with the procedure for applying for consent to let with Coutts & Co
  • I am interested in more information concerning consent to let mortgages, potentially transferring our existing mortgage with Coutts & Co over to a consent to let one.