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

Questions and Answers: M&S Bank consent to let

  • Finding myself in a pickle with a Consent to Let home loan. Having sought consent to let my lender has asked me to provide them with an executed tenancy agreement before they will grant permission. Is is not the case that if I adhered to their request that I would be breaching the lender’s terms and conditions?

  • At the moment I have a mortgage with M&S Bank and I am thinking of purchasing a home with my soon to be wife. It's her council house on a right to buy scheme. Would it be possible to switch my M&S Bank mortgage to rent out my existing property in Hackney even though the property is currently in negative equity.
  • I have recently sought consent to let from M&S Bank, but it would be useful to know if they impose any conditions on the level of rental yield?
  • Our existing house in Redbridge has probably about £120K equity with a home loan with M&S Bank. It's a nice family house in a popular area and it should rent well. We are possibly moving for my partner’s work and were thinking of keeping this house on as an investment property - would we need to change the mortgage to a buy to let product or can we get consent to let from M&S Bank?
  • Just curious as to whether it is possible if you own one property with consent to let from M&S Bank, to buy a second with a residential mortgage to live in. Then once the consent expires on the first property, to convert to buy to let or sell it?
  • I am looking at moving abroad for work and would like consent to let from M&S Bank whilst I am away. Is the way forward to prepare a letter requesting consent to let and mail it to M&S Bank? The point of renting the property isn't to make money but to keep the house in case things don't work out
  • My wife and I want to let our house out and use the rental income to pay rent on a house in Merton. What are the chances of being given consent to let by M&S Bank without being forced onto a BTL product.
  • Do I need consent to let if I let to a family member (in my situation my Dad now lives there and contributes towards the M&S Bank mortgage)?