Consent-to-let Help for HSBC Bank plc

Top Five Questions relating to HSBC consent to lease

• What is the process for obtaining consent to let from HSBC? What evidence do they need? is there a fee to pay? How long the consent is valid for? Do I need to renew it annually? What if I obtain a consent but decide to sell the property rather than rent the property out?
• As things stand we have a three year fixed term mortgage with HSBC that we're about a year into. Our circumstances have now altered and we wish to rent out our flat for a while and move to another town. How do we minimise the risk of HSBC rejecting consent to let.
• I have a current mortgage contract with HSBC and wish to clarify if it would be possible to obtain consent to let out our maisonette in Merton.

  The rationale for needing to find tenants for the property are are due to: -

  • My family and I will be moving to Melbourne early next year.
  • In renting out the house this will facilitate savings to help the migration process.
  • It would be pointless from a monetary point of view to pay outright for a property which we are no longer living and by leasing out the property this would be considered as continuing investment.

  If HSBC granted permission to us for renting we would propose some financial commitments which are as follows: -

  • Continue to pay the monthly mortgage payment directly from my bank account.
  • 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 currently have a mortgage with HSBC and the loan to value is currently 45% with the HSBC current book value and I'm looking to purchase another property but would like to keep my current property at the current market value. I have had CTL from Northern Rock on a previous property so know a bit about them and I also have buy to let with Scottish Widows on another property. Does the expected rental income on a consent to let with HSBC need to exceed the mortgage repayments? I have a fixed rate which I tied into a fixed rate and left the term at 18 years so it was paid off as early as possible, obviously this leaves with quite a high monthly repayment.
• I am looking at moving overseas for work and would like consent to let from HSBC whilst I am away. Is the way forward to complete the consent to let form and send it off in the post to HSBC? Letting the property isn't to make money but to keep the property in case things don't work out
• My mortgage company wont issue consent to let until I have a move in date confirmed with a tenant. How can I confirm this without consent to let? I am not certain but I think my friend had a similar issue with HSBC.
• Can I get an interest only mortgage with consent to let when my current HSBC deal runs out June 23?
• I'm soon to change mortgage provider to HSBC for a fixed rate but the likelihood is that I will need to rent the flat out for about 12 months. Do HSBC consent to let on fixed rate home loans and if so, what are the costs.