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

Common questions relating to State Bank of India UK consent to lease

  • A year ago my lender (not State Bank of India UK) issued me with consent to let. The condition was that every 6 months they would add a charge of half a percent of the remaining mortgage amount. Having the first few payments they have omitted to make the charge in recent months. This may well be a basic computer error but I am nervous that it would also mean I no longer have Consent to Let.
  • I am looking to apply to State Bank of India UK for consent to let on our current residential property in Bromley. I am planning to draw down equity from my existing house ahead of this, and using that money to buy a new home. I will live in that property whilst renovating it for six months after which the intention is to sell it then move back to my existing property. Is this something State Bank of India UK will consider consent to let for or does this fall outside the standard criteria?
  • We are in need of a bigger house so our children don't have to bunk together. We are planning to purchase another house in a few years time. The house is estimated to be worth £240,000 and we have about £55k left to pay on the State Bank of India UK mortgage. We would ideally like to keep this house as an investment property and rent it out with consent to let. Is it possible to get a mortgage on two properties at the same time or do we first need to discharge our current mortgage?
  • I have been leasing my flat to a tenant for a few years but not on a buy to let mortgage because I naively considered that you only required a buy to let if you had more than one mortgage. In trying to purchase a second property, I discovered that I should have had consent to let at the outset from my lender State Bank of India UK. I'm curious as to whether I can now ask State Bank of India UK for a consent to let?
  • Were we to ask for a consent to let letter by State Bank of India UK will we be made to switch to buy to let mortgage? Our mortgage is with State Bank of India UK and as properties 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 if the value picks up.
  • I currently have my mortgage with State Bank of India UK and have been for the previous eighteen months and I am interested in finding out some more information about the possibility of getting 'consent to let’.
  • I am interested in consent to let for my property mortgaged with State Bank of India UK. How do I move forward? Do I have to contact State Bank of India UK and get them to agree?
  • I have spoken to someone at State Bank of India UK about switching our existing homeloan to consent to let (the current 2 year fix expires in summer 2016). Can I just confirm that I need to send a letter setting out our change in circumstance to State Bank of India UK? Where do I need to send the letter to?