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Need professional advice for your consent to let with MBS Lending Ltd? 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: MBS Lending Ltd consent to let

  • I am with MBS Lending Ltd and just had to ask for consent to let, but wondered if they set any requirements on the level of rental yield?
  • Me and my OH and I I have a standard mortgage with MBS Lending Ltd but I would like to occasionally take in lodgers....do I need consent to let from MBS Lending Ltd?
  • After ten years in the capital, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to refinance with MBS Lending Ltd. In Hillingdon, we are be looking at a 4 bedroom property around the £275k mark. I would preferably like to keep hold of my existing property. Could I ask for Consent to Let from the proposed new lender MBS Lending Ltd. If granted what are the likely conditions?
  • Is it possible that lenders (I have a mortgage with MBS Lending Ltd) may start taking a more lenient approach towards consent to let? A broker recently told me that Buy to let mortgages are not regulated by the FCA whereas residential mortgages are. So if I transfer from a owner-occupier to a BTL I am moving to a regulated product. He said that under the current regulation banks are reluctant to allow borrowers do this, which may explain why some lenders will let customers have consent to let but not swap to a BTL product. Is this correct?
  • When it comes to consent to let from MBS Lending Ltd am I supposed to advise them every time we get a new tenant and forward them a duplicate of the lease?
  • My mortgage company refuse to issue consent to let without a move in date confirmed with a tenant. How can I confirm this whilst lacking consent to let? I am not certain but I vaguely recall my friend had a similar issue with MBS Lending Ltd.
  • Will MBS Lending Ltd want to know my reasons for applying for consent to let? Should I inform them of my potential relocation abroad?
  • Can I get an interest only mortgage with consent to let when my current MBS Lending Ltd deal runs out September 30?