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

Reliance Bank consent to let: Q and A’s

  • I have been letting out my flat with "consent to let" from Reliance Bank on a residential mortgage for the past two years. Reliance Bank have just written revoking consent to let unless we switch to one of their "buy to let" loans.

  • Exciting times as my better half and I intend to relocate to Beijingin Month, perhaps temporarily but conceivably longer term. I'm in the process of writing to Reliance Bank for consent to let out my property (we have already found tenants). I have had a mortgage with Reliance Bank for Six years and I am up to date with payments. Reliance Bank advise, that even if they consent to the letting, that this will be limited for a single year. What happens after one year?

  • I wish to let my existing house and want to acquire a larger house for the family. I have a two year fixed mortgage with Reliance Bank. Provided I get the consent to let as I understand banks are more than likely to push me towards getting BTL mortgage when the fixed term is finished. Could I remortgage after two years with another lender? What implications does that have aside from the higher rates - do I need a greater equity portion in the property too ie lower ltv?
  • Much to my surprise I have been offered an excellent job opportunity for 6 months in Denmark. I have enough cash reserves to pay the monthly Reliance Bank mortgage however the block insurance requires that the property must be occupied in order to be valid. Last December the roof was damaged but repaired. Should there be any problems during the winter months I would find it hard to afford remedial works. Would I be eligible for consent to let by Reliance Bank for the period I am overseas?
  • My husband and I have a Reliance Bank home loan currently and potentially wish to let it out for a short period of time with consent from Reliance Bank for (two years). Is this possible?
  • If we request a consent to let letter from Reliance Bank will we be forced to switch to buy to let mortgage? Our mortgage is with Reliance Bank and as houses are not selling at the mo but we have seen one we like we were leasing our home out in order to purchase the new and dispose of this one when the market picks up.
  • I was just wondering how to get consent to let from Reliance Bank...do I call them or apply formally in writing to them?
  • I hope you can help What do I need to do to obtain consent to let from Reliance Bank? And how much equity is needed?