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

Questions and Answers: St James Place consent to let

  • I am employed by letting specialists in loc and have been ask but a prospective tenant of a property for sight of the ‘consent to let’ from the owners lender St James Place. Is there a new law that has triggered this question?I have not come accross this before, is this a new legal requirement?

  • I’ve a fixed mortgage with St James Place (with a little under two years remaining) but due to redundancy want to move away from Essex (actually to a new job in Belgium) and so want to let the property out. We don't want to have the expense of the penalty cancellation of existing mortgage and understand that some lenders happily issue this 'consent'...what is the approach taken by St James Place?
  • I want a bit of initial guidance to see consent to let is a sensible option. I bought my flat nine months ago by transferring an existing St James Place mortgage product. My fixed rate expired 4 months ago. I'm currently deliberating moving in with a new partner who has his own property and mortgage also with St James Place, which I would not seek to be added to. I don't want to sell my property yet because I'm unsure of whether the new move will work out. I don't want to change to a buy to let mortgage yet for 2 reasons: 1) I need to discover if it is a marketable property with rents higher than my mortgage payments and 2) I need to come up with extra capital to meet the 65% LTV ratio required for a buy to let mortgage. Ideally I would like to obtain consent to let from St James Place for 1-2 years in order to be more secure in becoming a possible landlord and to raise the capital. If at the end of the consent to let period I was unsure I would probably either sell my property or, depending on the new relationship working out, move back to it.
  • I am expecting to apply for consent to let from my existing mortgage lender St James Place. A colleague of mine said that she was issued with ‘consent to let’ confirmation from a different lender where it stipulated that the tenancy granted must be in the form of an AST. Can you explain what this is?
  • I am looking to St James Place to issue me with consent to let out my basement flat in Bexley. I am moving in with partner, cant sell property
  • Can you explain the process for securing consent to let from St James Place? Are there certain requirements like you must have owned the property for a year before its granted?
  • I would like to know if I have a normal mortgage with St James Place and decide to rent it out, does the rate get jacked up and are there any associated costs for seeking consent to let.
  • I am trying to find out if St James Place will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.