Consent-to-let Help for GE Money Home Lending Ltd

Sample questions relating to GE Money consent to let

• I purchased a house three years ago in Newcastle when I worked locally. I got a new job which involved working in London. I commute down on Saturday morning and live with a cousin during the week. I decided on relocating with the family to avoid the commute. I am considering the option of renting out my existing home. My mortgage is with GE Money, would I have to move onto a new mortgage product or ought I apply for consent to let?
• My husband and I have just sorted our rates for another fixed five years with GE Money. However, I attended an interview and basically I accepted the job offer in Islington. I'm going to rent a one bed flat for the family in Wandsworth as we don't want to sell the house and moreover we might come back before two years.... We really don't know how things will work out. We called GE Money but we would appreciate your point of view please. How is it to receive consent to let in that case as we secured a fixed 5 years rate we really don't want to lose this rate.
• I have a current mortgage contract with GE Money and need clarify if it would be possible to gain consent to let out our ground floor flat in Hackney.

  The rationale for wishing to rent out the property are as follows: -

  • My wife and I will be moving to Cape Town in 3 months.
  • In renting out the property this will enable us to make some savings to assist with the migration process.
  • There is little merit from a fiscal perspective to discharge the mortgage for a property which we are no longer residing in and by renting out the place this would be considered as continuing investment.

  If GE Money agreed that we are able to proceed with renting we would suggest some financial commitments which are as follows: -

  • Continue to pay the monthly mortgage payment directly from my bank account.
  • Retain the services of an approved letting agent who will provide a rent guarantee scheme as a further financial safeguard.
  • Provide our forwarding details for when we emigrate.
• I own a house that's presently under shared ownership (My share is 60%) and I bought it in September 2013. I am currently going through the full purchase of the house. My partner and I have also got a second house that we are hoping to purchase. Mortgage in principle has been issued by GE Money. I would like to know that I will be able to put the existing house through consent to let as soon as the remainder share has been purchased so, that we can start the process of buying the new property
• I'm planning to move to Australia for eighteen months for my job but I don't want to change the mortgage to BTL as the intention is to reoccupy it when I return. Do you know if GE Money charges additional interest? Is there any work around?
• I want to let out a room in my house in Croydon. Do I require consent to let from my lender GE Money?
• I would like to let my house for two years at most. How do I go about getting consent to let from GE Money who I have a mortgage with?
• Just a quick one. Will GE Money force me into a consent to let product whilst in a fixed rate product for 2 years?