Consent-to-let Help for M&S Bank

Frequently asked questions relating to M&S Bank consent to lease

• I have my one bedroom first floor purpose built maisonette in Camden on the market but notwithstanding a couple of viewings there is a lack of interest so far. As a fall back position I am considering leasing out the property if it doesn't sell. I dont think I will have a problem getting consent to let from the freeholder. My mortgage adviser says that in such a scenario I may have to switch to a buy to let product yet the chances are that I don't have enough equity needed. What's my exposure if I if hypothetically I was to retain the existing M&S Bank mortgage and let the property out without informing them. I was told that they can put a marker on you for mortgage fraud once find out. Is that right?
• I have a shared ownership home in Newham and will be looking to buy out the rest of the property. However, in the future I may be working abroad for a short period of time so would like to know what approach M&S Bank take to consent to let as I am considering a remortgage with them. I am not sure if a mortgage can be obtained on my property but in the meantime can you provide further information on their consent to let criteria?
• My fiancee and I are are looking to join the property ladder, presently renting. We want to purchase a studio flat in Camden. We want to move there, but will need to wait for a job - perhaps 2-3 years. Would we have to get a B2L loan? Could we have a domestic mortgage with M&S Bank, even though we won't be moving in straight away? Alternatively could we live there for a short period of time , then start renting it with consent to let from M&S Bank? I'm only evaluating scenarios that are completely legitimate, and have no intention of breaching the terms of the mortgage with M&S Bank.
• After having retired last year I purchased a “retirement home” for my wife and myself to live in. Our intention is to let our current property to our nephew and I have therefore asked M&S Bank for consent to let. What are the chances of this being given?
• I have a letter to M&S Bank requesting consent to let signed and ready, but I'm not sure what address I should forward this to. Can you please help me with the address?
• Do you know whether M&S Bank will accept rental income on consent to let for affordability purposes or does it need to be BTL ? Would M&S Bank let me raise capital based on the rental income ?
• I currently have a residential mortgage with M&S Bank and plan on letting due to work being based in Manchester. In asking for consent to let from M&S Bank do I run the risk of them forcing me to change deal to buy to let
• I was wondering if you are able to help. I do not have consent to let from M&S Bank and was wondering if this option is available to me to switch to as I need to move back home to look after my mum