Need Help?

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

Frequently asked questions relating to Scottish Building Society consent to lease

  • I bought a house three years ago in Newcastle when I worked locally. I got a new job which necessitated working in Wimbledon. I commute down on Sunday evening and live with a relative mid week. I am now considering relocating with the family to avoid the commute. I am deliberating the option of renting out my current home. The mortgage is with Scottish Building Society, would I have to change my mortgage deal or should I apply for consent to let?
  • My flat has a mortgage against it with Scottish Building Society and I have been letting out my apartment without consent to let, which I am now led to believe means I am in contravention of my mortgage Ts and C’s. I fear that they have found out that I am not residing there. What negotiating options are available if I fail to sell it before they are on notice that I have breached my Ts and C’s?
  • I have a current mortgage contract with Scottish Building Society and need clarify if it would be possible to gain consent to let out our studio flat in Westminster.

    The purpose for needing to find tenants for the property are are due to: -

    • My family and I will be migrating to India next spring.
    • In letting out the house this will facilitate savings to assist with the migration process.
    • There is little merit from a fiscal perspective to pay outright for a property which we are not residing in and by letting out the home this would be deemed as continuing investment.

    If Scottish Building Society agreed that we are able to proceed with renting we would propose some financial commitments to include: -

    • Maintain paying the monthly mortgage payment by direct debit.
    • Instruct an approved letting agent who will provide a rent guarantee scheme as a further financial safeguard.
    • Supply our forwarding address for when we relocate.
  • My property recently got consent to let on a homeowner loan with Scottish Building Society with the intention of transferring to a BTL rate when the fixed term ends in a few months' time, so I'm not sure if this complications to the issue! Any guidance gladly appreciated.
  • If we ask for a consent to let letter from Scottish Building Society will we be made to switch to buy to let mortgage? Our mortgage is with Scottish Building Society and as houses are not currently selling and we have seen one we like we were leasing our home out in order to purchase the new and sell this one when the market improves.
  • I took a residential mortgage with Scottish Building Society - about 55% equity. I am considering relocating due to a promotion and enquiring whether consent to let would be granted so I could let out the house?
  • Me and my partner have had my home loan with Scottish Building Society for ten years and always made payments If I sought consent to let would I get a positive response?
  • Does my LTV need to be at a certain ratio to allow me to apply for a consent to let from my mortgage provider Scottish Building Society. Will any consideration be given to the fact that I only took out the mortgage three months ago?