Consent-to-let Help for Virgin Money plc

Examples of recent questions relating to Virgin consent to let

• I have a colleague who is thinking about renting their property out and moving in with partner. She has a house in Enfield and has a £95k home loan with Virgin. What would she need to do to get consent to let if she decides to proceed.
• If I were to let out my garden flat with consent to let with Virgin, what evidence would be required of the letting? If after twelve months I decided to let it on a series of short term lets, do I still need to provide evidence to Virgin, or will they be happy provided i keep up with the payments? For example if I rent the rooms out individually at some point in the future, is there any reason for Virgin to be informed and would they care?
• I have a current mortgage contract with Virgin and need clarify if it would be possible to gain consent to let out our maisonette in Barnet.

  The rationale for wishing to find tenants for the property are are due to: -

  • My wife and I will be migrating to Cape Town in January.
  • In letting out the house this will enable us to make some savings to assist with the migration process.
  • There is little merit from a monetary point of view to pay outright for a property which we are no longer residing in and by renting out the home this would be considered as continuing investment.

  If Virgin granted permission to us for renting we would suggest some financial commitments to include: -

  • Maintain paying the monthly mortgage payment directly from my bank account.
  • Instruct an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Provide our contact details for when we move.
• My girlfriend and I (co-owners) are thinking of transferring our mortgage to Virgin. I was conducting some research concerning consent to let from Virgin to understand the rules around potentially leasing our current property out (probably in a in a couple of years time) if we moved away. The flat in question was a first-time purchase for us about three years ago. Currently we are living there.
• How much of my mortgage allowance will be made available to borrow if I change my mortgage to a consent to let with Virgin?
• My Virgin mortgage rate comes to an end this year can I move to a interest only with consent to let?
• I have Virgin mortgage and am considering leasing out the property. I understand I would require consent to let to do this...is that true ?
• I have a domestic mortgage with Virgin, and I would like to rent the property out, until I decide whether to sell or keep it as an investment. At the moment I am on the standard variable rate. Will I need to remortgage? I.E. BTL?