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Need professional advice for your consent to let with New Life Mortgages Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Recently asked questions relating to New Life Mortgages consent to lease

  • Under what circumstances will consent to let for a property be issued by New Life Mortgages? How long do you have to have had ownership of the property before consent to let can be granted by New Life Mortgages? In order to give you some history I am a young solicitor in an apartment bought five months ago. A dream job opportunity necessitating moving to Islington on a permanent basis has presented itself. I am looking at obtaining consent to let in the first instance with a view to put a tenant in it to offset the costs of the New Life Mortgages mortgage.
  • I obtained consent to let from New Life Mortgages two yrs ago but never used it and have since refinanced with another bank. I recently applied for consent to let. I was told it would be authorised since I met the criteria. Yet recently got a letter advising me that I must supply evidence from the DWP evidencing that that are aware of my current situation before they can issue consent. They said this is policy but I have not been able to find these T&Cs on their site. I did complain about the insinuation that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £35 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to continue with them
  • What is the procedures for obtaining consent to let from New Life Mortgages? What evidence do they require? is there a fee to pay? Is consent generally limited in time and if so, for how long? 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?
  • My wife and I bought a house ten years ago on shared ownership basis, I own 50% by way of bank loan and rent the remaining percentage. In late 2013 I purchased a new property. I rented out my first property and moved to my new home. I obtained consent to let from my lender and I believed I had consent to let from the housing association. Earlier this week I was contacted by the housing association advising they had nothing on record to evidence I had obtained consent to sublet. What do I do now?
  • If I were to apply for consent to let from New Life Mortgages what is the time scale New Life Mortgages would take to make a decision?
  • If I am tied into a fixed rate with New Life Mortgages but am thinking of letting out my property, is there a fee for consent to let from New Life Mortgages and does the interest rate increase?
  • I want to take in in a lodger for my garden flat in Sutton which I live in. My mortgage is with New Life Mortgages. How do I go about getting a consent to let?
  • Do you know if I can retain my existing homeowner mortgage with New Life Mortgages if I start renting out? If the consent to let is granted will they tie me into an increased rate?