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

Penrith Building Society consent to let: Q and A’s

  • I have a standard mortgage with Penrith Building Society and will be joining the Royal Fleet Auxiliary in September. This is a civilian manned fleet owned by the Ministry of Defence. I will be at sea four months on and three months in the UK. During my time away I want to rent out my property in Hillingdon and live with my brother when on shore. If Penrith Building Society refuse are there mortgage companies that might be amenable?
  • I am buying a one bedroom ground floor purpose built flat in Greenwich. I will only want to be there for nine months, and then move into a bigger flat. As opposed to disposing of the prior flat I'd like to rent it out so that it becomes an investment. Do you know if Penrith Building Society would give consent to let after six months?
  • I have a current mortgage contract with Penrith Building Society and need clarify if it would be possible to obtain consent to let out our maisonette in Brent.

    The rationale for wanting to let out the property are as follows: -

    • My family and I will be relocating to Melbourne early next year.
    • In renting out the property this will facilitate savings to support the migration process.
    • It would be pointless from a fiscal point of view to pay outright for a property which we are no longer residing in and by renting out the place this would be viewed as continuing investment.

    If Penrith Building Society agreed that we are able to proceed with renting we would propose some financial assurances which are as follows: -

    • Maintain paying the monthly mortgage payment by direct debit.
    • Use an approved letting agent who will provide a rent guarantee scheme as a further financial safeguard.
    • Provide our forwarding address for when we move.
  • My property recently got consent to let on a non-commercial homeloan with Penrith Building Society with aim of changing to a buy-to-let rate when the fixed rate expires in a few months' time, so I'm not sure if this complications to the issue! Any insight gladly appreciated.
  • Wewant to rent out the family home and purchase another. What do I need to show Penrith Building Society to get consent to let?
  • I would be interested to know what information I should include in a letter seeking consent to let my property in Ealing? I would like to send a request to my lender Penrith Building Society.
  • I have bought a property with a Penrith Building Society home loan. However I am currently living with parents. I don't want to move in until next January due to personal reasons. In interim can I let out the property with consent to let?
  • We would like to obtain consent to let on a house where we have a mortgage with Penrith Building Society. If granted, how long would consent be given for? In seeking consent to let from Penrith Building Society are we running the risk of them forcing us to change deal to B2L