Need Help?

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

Sample questions relating to Cumberland Building Society consent to let

  • I have my garden flat in Brent on the market but notwithstanding a couple of viewings there is a lack of interest so far. As a backup option I am considering renting out the property if cant find a buyer. I dont anticipate a problem getting consent to let from the freeholder. My mortgage adviser has told me that in such circumstances I may need to switch to a B2L mortgage yet I probably don't have sufficient equity. What's the worst that could happen if I was to just keep the existing Cumberland Building Society home loan and rent out the flat without informing them. As long as the mortgage is being paid in full and on time, why would they care or check?
  • Please explain "consent to let" to me? I live in a 1 bed apartment and its in good condition. It is on the market and I can't find a buyer. This is because my neighbour is a drunk and assaulted me last year. I had no choice but to put this on the disclosure form. I am with Cumberland Building Society on a standard variable rate. Someone mentioned I should obtain consent to let by Cumberland Building Society and rent the property out.
  • We have an existing mortgage with Cumberland Building Society and wish to clarify if it would be possible to seek consent to let out our three bedroom ground floor purpose built maisonette in Bromley.

    The reasons(s) for wishing to let out the property are are due to: -

    • My wife and I will be moving to Melbourne early next year.
    • In letting out the property this will enable us to make some savings to assist with the migration process.
    • It would be pointless from a financial perspective to pay off the mortgage for a property which we are not living and by letting out the property this would be viewed as continuing investment.

    If Cumberland Building Society agreed that we are able to proceed with renting we would suggest some financial commitments to include: -

    • Maintain paying the monthly mortgage payment by standing order.
    • 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 emigrate.
  • We wish to know what the policy is for Cumberland Building Society for consent to let. I have come across different suggestions in relation to charges and rates. I need to move area for career reasons but I don't want to sell the house due to a depressed market.
  • How do I go about getting a consent to let application form from Cumberland Building Society and how quickly can I get the consent?
  • I recently completed on a garden flat in Lambeth. I am first time buyer. I am moving Ireland next month, can I get consent to let from my lender Cumberland Building Society or do I have to wait six months?
  • I recently purchased a house with 10% deposit for personal uses. A mortgage was taken with Cumberland Building Society. However my circumstances have now changed. I am being transferred out of the location. Am I able to get consent to let from Cumberland Building Society and put the property up to let?
  • We have a granny flat attached to our home. Do we need consent to let this from Cumberland Building Society? If so, what is the process if I need to transfer the mortgage to consent to let?