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Need professional advice for your consent to let with Landbay? 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: Landbay consent to let

  • I am a first time buyer interested in a detached house in Landbay. I have a healthy deposit with a mortgage from Landbay. My concern is that my girlfriend inherited a apartment in Slough and I hope to be moving in next year, at which point I would have to let out my house. I have heard of consent to let but it does not sound like there is any certainty. Is there any advice you can impart?

  • I have a garden flat in Camden let out which has a 62 year lease. Mortgage adviser said I should remortgage (currently with Landbay) as a buy to let rather than consent to let and release 55-60k which on top of a new mortgage based on income multiples would give me a budget of £195k. Not much about in Hackney for me to buy my own property. A lease extension will cost 21k. Should I keep or sell the flat?
  • My flat has a mortgage against it with Landbay and I have been renting my apartment minus consent to let, making me in contravention of my mortgage conditions. I fear that they have found out that I am not living there. What negotiating options are available if I fail to sell it before they are on notice that I have breached my conditions?
  • Is it right that mortgage providers (I have a mortgage with Landbay) have changed tune and are now taking a more accommodating approach towards consent to let? A mortgage adviser recently told me that Buy to let mortgages are not regulated by the FCA whereas residential mortgages are. So if I move from a homeowner to a Buy to let I am moving to a regulated product. His belief was that under the current regulation banks are reluctant to allow customers do this, which may explain why some banks will allow borrowers apply for consent to let but not swap to a BTL mortgage. Is this plausible?
  • I have a residential mortgage with Landbay, and I would like to rent the house 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?
  • Just looking for some advice. I already have a mortgage in place with Landbay. I have been given licence to temporarily rent out my flat from the freeholder of the block and they asked for a copy of the consent to from Landbay.
  • I may be looking to let out my property and wondered what I would need to do to obtain consent to let by Landbay. I may be moving abroad for a year.
  • I might potentially need consent to let from Landbay in the future with work. I am just exploring what the options would be if this was the case. Is there a limit on how long one can let out a property with consent?