Consent-to-let Help for Ecology Building Society

Questions and Answers: Ecology Building Society consent to let

• Having spent 17 years in the capital, I'm considering relocating to be nearer to family. We've only been homeowners for the last two years and about to renew our mortgage with Ecology Building Society. In the relocation destination, we are be looking at a 4 bedroom house around the £275k mark. Ideally, we would like to keep hold of my existing flat. Could I ask for Consent to Let from the proposed new lender Ecology Building Society. If granted what are the likely conditions?
• We have an existing mortgage with Ecology Building Society and wish to clarify if it would be possible to obtain consent to let out our two bedroom ground floor purpose built flat in Havering.

  The purpose for wishing to find tenants for the property are as follows: -

  • Me and my wife will be migrating to Hong Kong next spring.
  • In renting out the property this will facilitate savings to assist with the migration process.
  • It would be pointless from a monetary point of view to discharge the mortgage for a property which we are no longer residing in and by leasing out the home this would be deemed as an ongoing investment.

  If Ecology 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 direct debit.
  • 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 relocate.
• I have a three year fixed rate mortgage with Ecology Building Society which began in November. I will be moving out in in two months and have people ready to lease my flat. I need to get a letter from Ecology Building Society granting consent to let until my term is up to allow me to start a new mortgage. What is the process for going about this?
• Me and my fiance hope to purchase a house together. Plan is for me to get consent to let my flat from Ecology Building Society. Thinking a little down the line however - when my two year fixed comes to an end - how would it work if I sought to remortgage then?
• How much of my mortgage allowance will be made available to draw down on if I change my mortgage to a consent to let with Ecology Building Society?
• My husband and I are trying to find out which lenders are best for allowing consent-to-let without raising rates, and hopefully permitting in excess of two years if required. Is that something you can help with? We are particularly interested in Ecology Building Society
• We are about to buy a property and plan to live in it once we have renovated but we may need to let the property out but not sure what the criteria is for consent to let from Ecology Building Society? We don't require a buy to let mortgage because we are not certain if we will need to let it out at all
• I have a homeowner homeloan with Ecology Building Society. I purchased the property in December last year. What are the options and criteria for consent to let.