Consent-to-let Help for The Royal Bank of Scotland plc First Active

Questions and Answers: RBS- First Active consent to let

• I've got a current homeloan with RBS- First Active approaching 18 months and the fixed rate is about to come to an end. We are thinking of taking equity out of our current residence to enable us to buy a new larger house and then rent out the current garden flat. We have had initial advice that we will get a new domestic mortgage allowing for consent to let - can you clarify what is involved?
• Am I required to notify RBS- First Active of my plan to rent a shed out on the grounds of my property. Can you help clarify? I am seeking independent advice on the insurance, legal and tax side of things .
• My wife and I are just about to receive a mortgage offer from RBS- First Active for a garden flat. I have applied through Right to Buy. It is a 20 year mortgage. I am curious as to what is the main criteria RBS- First Active adopt in order to allow borrowers consent to let? Is consent to let based on the rental multiple on a property?
• We have a self certified mortgage with RBS- First Active that we are having problems negotiating consent to let due to being in New York and renting out the apartment a few years ago without their approval which we did not know was required. We have a 38% LVR and have been making overpayments of £500pm for 5 years so there are no arrears. We would happily swap onto a buy to let mortgage with them at a bumped up rate however that has not been offered to us.
• My fiance and I were curious as to whether it is possible if you own one property with consent to let from RBS- First Active, to buy a second with a residential mortgage to live in. Then once the consent runs out on the first property, to switch to buy to let or sell it?
• My partner is considering placing an offer on a new property in Bromley and is getting a good deal as it requires some work done. We want to rent our current property for two years and come back to live. Is there anything in the Ts and Cs of my RBS- First Active mortgage allowing me to lease it out or do I need specific consent to let?
• I am potentially moving in with my boyfriend at his home and would like to rent out my property that I bought last year, I'm just not sure of the process as my property is my first home. What do I need to do to obtain consent to let from RBS- First Active If I obtain consent will my mortgage payments increase?
• I might potentially need consent to let from RBS- First Active 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 one can let out a property with consent?