Consent-to-let Help for Principality Building Society

Principality Building Society Consent to Lease Example Support Desk Enquires

• Under what scenarios will consent to let for a property be granted via Principality Building Society? How long do you have to have had the mortgage before consent to let can be granted by Principality Building Society? In order to give you some perspective I am a young doctor in a home bought last July. The ideal job offer necessitating moving to Newham on a permanent basis has arisen. I would be looking at obtaining consent to let in the first instance to be able to put a tenant in it to cover the costs of the Principality Building Society mortgage.
• I previously got consent to let from Principality Building Society three yrs ago but failed to need it and have since remortgaged to another mortgage provider. I recently asked for consent to let. I was told it would be authorised since I met the criteria. However I got a letter informing me that I must supply a letter from the DWP evidencing that that are aware of my current situation before they can provide authorisation. They said this is policy but I have not been able to find these conditions 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 £40 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
• I'm looking to remortgage our old garden flat, currently let out with consent to let from Principality Building Society, onto a BTL rate as we will not be moving back into it now since we have our family home. So, I'm assuming I need a specialist financial adviser for this and I am not really au fait with what my options are. Are you able to offer any advice on an efficient broker service specialising in BTL?
• I rented my house out for three years between 2009-2012 while employed overseas. I have a letter dated June 2010 from the lender granting consent to let. In the letter it clearly states that the consent to let is valid for "the remaining term of the mortgage". I have not changed product since the letter was issued. I now plan to move house and rent out my existing house. However, my financial advisor has suggested that the 2010 consent to let letter may not be sufficient for the new lender Principality Building Society for the house I intend to buy.Your view would be appreciated
• What are the circumstances under which Principality Building Society would decline a request for consent to let?
• I was just enquiring if Principality Building Society were picky when considering consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
• Is consent to let a cost efficient way of renting out your property? Isn't this a loophole for some borrowers to exploit?
• I am looking to get consent to let with my Principality Building Society residential mortgage. It is a mid terraced house. Do Principality Building Society grant consent on this basis? Or would it be regarded as an HMO?