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Need professional advice for your consent to let with Norwich and Peterborough Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Top Five Questions relating to Norwich and Peterborough Building Society consent to lease

  • What options are open to me if my request for consent to lease is rejected by Norwich and Peterborough Building Society?

  • Am I required to inform Norwich and Peterborough Building Society of my plan to rent a shed out on my property. Can you shed any light on this? I am seeking independent advice on the insurance, legal and tax side of things .
  • What is the maximum period of time allowable to Norwich and Peterborough Building Society that I would be able to let my property before being required to transfer the mortgage or sell my property? Essentially, my boyfriend has asked me to move in with him and I really want to hold onto my house. I would like the security of knowing I still have my own home.
  • Is it right that mortgage companies (my home loan is with Norwich and Peterborough Building Society) are taking a more accommodating approach towards consent to let? A broker suggested that BTL mortgages are not regulated by the FCA whereas residential mortgages are. So if I move from a residential to a Buy to let I am moving to a regulated product. He suggested that under the current regulation banks are wary of letting borrowers do this, which is likely why some lenders will let customers have consent to let but not move to a BTL mortgage. Is this right?
  • Will Norwich and Peterborough Building Society want to know my reasons for seeking consent to let? Should I inform them of my potential move abroad?
  • Do I need consent to let if I rent to a family member (in my situation my brother now lives there and contributes towards the Norwich and Peterborough Building Society mortgage)?
  • My fiance and I have a mortgage with Norwich and Peterborough Building Society and would be thinking about buying another main residence and then subsequently letting our current home out. Would I require consent to let from Norwich and Peterborough Building Society?
  • Are you aware if there is usually a required loan to value amount before Norwich and Peterborough Building Society will consider consent to let?