Need Help?

Need professional advice for your consent to let with Tesco Bank (a trading name of Tesco Personal Finance plc)? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Examples of recent questions relating to Tesco Bank consent to let

  • What is the process for obtaining consent to let from Tesco Bank? What information do they require? is there a fee to pay? Is consent generally limited in time and if so, for how long? Do I need to renew it every year? What if I obtain a consent but decide not to rent the property out?
  • Please explain "consent to let" to me? I live in a 1 bed flat and its in good condition. It has been on with agents for two months and I am struggling to sell. This is because my neighbour is a drunk and assaulted me last year. I had no choice but to put this on the disclosure sheet. Mortgage is with Tesco Bank on a fixed rate. Someone mentioned I should seek consent to let from Tesco Bank and let the flat for a couple of years.
  • My brother and I jointly own a property in Harrow with a Tesco Bank mortgage. I want to move out and buy a new property with my fiancee. How would I deal with sub-letting my room? Do I require consent to let from Tesco Bank. My brother will stay in the property
  • I have a current mortgage contract with Tesco Bank and wish to clarify if it would be possible to seek consent to let out our garden flat in Waltham Forest.

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

    • Me and my wife will be migrating to Cape Town early next year.
    • By letting out the property this will enable us to make some savings to help the migration process.
    • There is little merit from a financial perspective to pay outright for a property which we are no longer living and by leasing out the property this would be considered as continuing investment.

    If Tesco Bank agreed that we are able to proceed with renting we would suggest some financial commitments to include: -

    • Continue to pay the monthly mortgage payment by standing order.
    • Use an accredited letting agent who will provide a rent guarantee scheme as a further financial safeguard.
    • Supply our contact details for when we emigrate.
  • I was just enquiring if Tesco Bank would give consent to let and what kind of fees, penalties and rate increase etc
  • Is it possible to remortgage with Tesco Bank with consent to let if my fixed rate is about to expire. Circumstances would not have changed.
  • I plan to buy a new house but can't afford to sell the existing property with a Tesco Bank mortgage. Do you know the criteria for Tesco Bank to grant consent to let? Is getting married and having kids a sufficient reason to to ask for consent to let?
  • I currently have a residential mortgage with Tesco Bank and plan on letting due to work being based in Luton. In seeking consent to let from Tesco Bank do I run the risk of them forcing me to change deal to buy to let