Consent-to-let Help for M&S Bank

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

• I plan to get in touch with M&S Bank for consent to let out my home in M&S Bank. However I currently have the property for sale but there are no takers and paying a full mortgage, council tax and insurance on unoccupied house is hurting financially. What position would M&S Bank take if I have the house on the market?

• Would a mortgage Early Redemption Charge be tax-deductible on Buy to Let flat? About a year ago I was thinking of applying for consent to let from M&S Bank on my flat but I ended up changing mortgage provider to get a BTL mortgage. I had to pay an early repayment penalty as I was still in a fixed rate period.
• I need to decide what to do ie let or sell. I have a M&S Bank mortgage on my property (with quite a bit of equity). I want to purchase and live in a second house but keep my old house and rent it out. How can I fund a second mortgage without selling my old property and using the equity as a deposit for the new property. Is there anyway I can change my old mortgage to a buy to let mortgages or obtain consent to let and take on a second mortgage without having a deposit to put down.
• It seems as though I will have the chance to go and work abroad in a couple of years. I am therefore thinking of downsizing to a newer apartment in Lewisham which I could rent out more easily when the time comes. I would aim to keep 50% equity in the new flat which would be my home for a while. My existing mortgage provider limits consent to let for a year. I suspect renting it out longer term and not having consent could result in a whole heap of problems. Buy-to-let seems inappropriate given that I will be living there, perhaps for 2-3 years initially. What type of mortgage do I ask for, and from which lender? Do lenders such as M&S Bank issue consent to let for a longer period?
• M&S Bank - consent to let potential. Do you have experience of the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
• My partner and I are considering applying to M&S Bank to obtain consent to let our home, how long does it take from the point of submitting the application to us finding a letting agent and listing our house for rent? and are there any further steps we will need to take?
• Me and my sister and I would like to obtain consent to let on a house where we have a mortgage with M&S Bank. If granted, how long would consent be given for? In seeking consent to let from M&S Bank are we running the risk of them forcing us to change deal to BTL
• Please could you confirm what the process would be if we move to a second home and need to apply for consent to let for our existing mortgage with M&S Bank