Need Help?

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.

Sample questions relating to Penrith Building Society consent to let

  • I have a standard mortgage over my property in loc with the intention of relocating overseas to country for three years. During this period it makes financial sense to rent out my apartment. My bank has declined to grant me consent to let. It’s hardly ideal to move to a buy to let mortgage as it’s only for a limited time-frame that I am abroad for.

  • I am interested in finding out more about the conditions borrowers have to satisfy before consent to let from Penrith Building Society is issued. Are there any restrictions on who can be granted consent?
  • How likely are Penrith Building Society in giving Consent To Let on a garden flat? Agents have had it on the market for six weeks. I need to sell but I'm concerned that if there is no interest I will have to get a tenant in to cover the monthly payments to Penrith Building Society (I do not now live at the address). My preference is to come clean with Penrith Building Society than not tell them but I am worried as to how understanding they will be.
  • My understanding is that this is a contravention of Penrith Building Society mortgage policy if I let out my flat having indicated that I intend to reside there. The intention is to have the mortgage fully paid off after four years, by which time I will become the outright owner, meaning I no longer require any consent to let. Penrith Building Society advised me I can overpay as little as I like during the lifetime of the mortgage. I know someone who is interested in renting the property. What is the likelihood of Penrith Building Society finding out? Can you set out ramifications of not obtaining consent to let? From what I have read there is a possibility of Penrith Building Society changing my loan onto a BTL mortgage
  • I have a mortgage with Penrith Building Society on a two year fixed term contract. I could have chance of a teaching position in Belgium next summer. Would I be eligible for consent to let by Penrith Building Society if I took this opportunity abroad?
  • I have Penrith Building Society mortgage and am thinking of renting out the property. I understand I would need a consent to let to do that correct ?
  • Just looking for some advice. I already have a mortgage in place with Penrith Building Society. I have been given licence to sublet my GFF from the managing agents and they asked if I have consent to from Penrith Building Society.
  • In the event that I was successful in obtaining consent to let from Penrith Building Society, can I sell during the consent period? Is it possible that I would incur any penalties?