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Need professional advice for your consent to let with Aldermore Bank PLC? 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: Aldermore Bank consent to let

  • Is consent to lease required from Aldermore Bank or can I rent out my property without telling Aldermore Bank and being forced to transfer to a buy-to-let loan?

  • I have a home loan with Aldermore Bank on a property and I am intending to rent it out and rent an alternative house due to changes in personal circumstances - I want to move to a new location, and to live in a larger house with my fiance. I applied for consent to let and just got reply with a refusal because they felt I want to invest. I as at a loss as to what to do next. I find myself at risk since I am already committed to the new home and am faced with paying both Aldermore Bank and rent, which could expose me financially. The matter needs to be resolved soon as a prospective tenant waiting on the sidelines
  • The likelihood is that I will have the opportunity to work abroad in a couple of years. I am therefore considering downsizing to a newer apartment in Sutton which I could rent out more easily when the time comes. I would aim to retain 50% equity in the new property which would be my home for a while. My current mortgage co limits consent to let for 12 months. I anticipate renting it out longer term and not informing them could result in a whole host of problems. B2L seems wrong given that I will be living there, perhaps for 2-3 years initially. What product should I be seeking, and from which lender? Do lenders such as Aldermore Bank issue consent to let for more than a year?
  • We took a home loan out on a 2 bed flat last May however I will be working outside of commuting distance of Lewisham for the foreseeable future but hope to find work closer in the long term. Given that I recently acquired the property I will lose money if I sell and do intend to return to Lewisham so would like to keep it. How difficult is it to get consent to let from Aldermore Bank and what are the financial implications ?
  • Were I to let my property with consent to let from Aldermore Bank will there be any rate difference? I am currently on a fixed rate for three years.
  • We have a owner-occupier mortgage with Aldermore Bank and are considering obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Before we apply I would like to know the connotations of making the change and any facts that we need to consider.
  • Can I remortgage with Aldermore Bank with consent to let if my fixed rate is about to expire. Circumstances would not have changed.
  • My fiance and I have 5 months to left on a two year residential mortgage with Aldermore Bank but now lease the property out. is it safe to assume they will just charge a set fee for consent to let?