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

Santander consent to let: Q and A’s

  • I have my maisonette in Sutton on the market but despite a couple of viewings there is a lack of interest so far. As a backup option I am considering letting out the property if cant find a buyer. I dont think I will have a problem getting consent to let from the freeholder. My mortgage broker says that in such a scenario I may need to switch to a BTL product yet the chances are that I don't have enough equity needed. What's my exposure if I was to just keep the existing Santander home loan and let the property out on the QT As long as the mortgage is being paid in full and on time, why would they care or check?
  • We are locked into a fixed rate mortgage with Santander for 2 years and have been living in the house for nearly half a year. Due a job opportunity abroad I need to relocate so I would like to lease the property out. What is the best way to go about getting consent to let from Santander?
  • We are currently in Melbourne and letting out our apartment in the UK. This was unplanned but an opportunity came up and we took it. The rental income is not enough to cover the mortgage so we transfer funds each month to cover the difference. Yesterday our lender got in touch telling me that because the property is being let out and has been for nearly two years we will have to pay 1.5% interest on top of our current mortgage rate. We could sell the property but this will be difficult as I am so far away. Could we remortgage with Santander and get consent to let?
  • I have a first time buyer mortgage on a one bedroom apartment in Redbridge but have rented it out without making Santander aware of this. I now require a consent to let letter. How can I get one?
  • We are close to purchasing a property and plan to live in it once we have refurbished but we may need to let the property out but not sure what the criteria is for consent to let from Santander? We don't need a buy to let mortgage because we are not certain if we will need to let it out at all
  • Our Santander mortgage is coming up for renewal. We would like to apply for a new fixed rate mortgage and then apply for a consent-to-let. Is this possible? We don't use the house much now that our kids are growing up, and would be better used as a rental.
  • My mortgage is presently with Santander and am debating whether to sell or rent in the short term but don't have the equity for a buy to let mortgage at this stage. What are my consent to let options currently?
  • Are you aware if there is normally a maximum LTV before Santander will give consent to let?