Need Help?

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

Top Five Questions relating to Family Building Society consent to lease

  • Eighteen months ago we bought our council flat, in London,recently valued at £200k. It's completely paid for from our own finances, with no mortgage. We can't sell (without penalty of losing some of our discount) before five years have passed. Regardless, we would like to hold onto it as a investment property to let out. We wish to release some equity via a Family Building Society mortgage. I am confident that my rental income would cover my monthly repayments so can I negotiate consent to let. Are you able to assist?
  • Due to meet with my financial adviser on Thursday. I am going to seek Consent to Let from my current lender Family Building Society. My new property in Islington will be 80% loan to value. I have been told by a friend that some lenders dont want consent to let borrowers and I may have issues regarding my new mortgage. Is there any truth in this?
  • As we are relocating and failing to find a buyer for our house, we are thinking about letting it out. Am I required to disclose this to Family Building Society? I have a hunch that Family Building Society might change our terms. I was hoping that if I continued making my monthly payments it shouldn't be an issue, but am now nervous about insurance implications if we haven't got consent to let. Any thoughts?
  • We are planning to lease out my house for a year from 26th September next year. Is there conventional wording for a letter I can use to send to Family Building Society to request consent to let.
  • My wife and I are having to relocate to the US for a couple of years for my job but I don't want to convert my mortgage to BTL as the intention is to move back into it when I return. Do you know if Family Building Society charges additional interest? Is there any work around?
  • My OH and I have a consent to let letter that I have obtained from my management company. I presume I need to attaching this with a letter to Family Building Society with a view to gaining consent to let from them. What address shall I mail it to?
  • I took a domestic mortgage with Family Building Society, and I would like to let the flat out, until I decide whether to sell or hold on to it as an investment. At the moment I am on the standard variable rate. Will I need to remortgage? I.E. BTL?
  • I currently have a residential mortgage with Family Building Society and plan on letting due to work being based in Bristol. In seeking consent to let from Family Building Society do I run the risk of them forcing me to change deal to BTL