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Need professional advice for your consent to let with West Bromwich Building Society? 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 West Bromwich Building Society consent to lease

  • I have a current mortgage contract with West Bromwich Building Society and wish to clarify if it would be possible to obtain consent to let out our one bedroom second floor purpose built flat in Redbridge.

    The purpose for wishing to let out the property are as follows: -

    • Me and my wife will be migrating to Hong Kong next spring.
    • By letting out the house this will facilitate savings to help the migration process.
    • There is little merit from a fiscal perspective to discharge the mortgage for a property which we are not living and by leasing out the place this would be deemed as an ongoing investment.

    If West Bromwich Building Society granted permission to us for renting we would suggest some financial assurances which are as follows: -

    • Continue to pay the monthly mortgage payment by direct debit.
    • Instruct an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Supply our contact details for when we move.
  • Me and my wife purchased a apartment in Newcastle and will be moving to Cornwall at the end of February. I have a letting agency and tenant ready. I was proposing to leave everything as it stands as I'm concerned West Bromwich Building Society will insist that I change my mortgage rate over to a buy to let and am unable to afford that. I appreciate that it would be preferable to obtain a consent to let via West Bromwich Building Society but am afraid if I come clean it would lead to no end of problems
  • Resulting from a change in family circumstances my wife and I are moving to my mum and dad’s house while they are away and letting our flat out. We are going to need for consent to let from West Bromwich Building Society. Will this be given? We will need to refinance in the next 12 months will we then transfer to a BTL product. We intend to return to our property at the beginning of 2017?
  • I have been in the Royal Air Force for five years and am looking to purchase a home with a West Bromwich Building Society mortgage. I would like to obtain consent to let the house to my parents. In the future I would live in the property with my wife and kids when my military career comes to an end. Is this possible?
  • How easy is it to obtain a consent to let from West Bromwich Building Society and what are the fees? If I want to let out my property for three months how easy is it to chop and change between a normal mortgage and consent to let?
  • We have a domestic mortgage with West Bromwich Building Society and are considering obtaining consent to let so that we can apply for a further mortgage on another property that I own on a buy to let basis. Before we apply We would be interested to know the implications of making the change and any facts that we need to consider.
  • I took a residential mortgage with West Bromwich Building Society, and I would like to lease the property out, until I decide whether to sell or keep it as an investment. At the moment I am on the fixed rate. Will I need to move onto a new mortgage? I.E. BTL?
  • We are mulling over a remortgage offer with West Bromwich Building Society and it's likely I will end up asking for consent to let at some point in the fixed period. Are there any charges I should consider?