Need Help?

Need professional advice for your consent to let with Cynergy Bank? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Sample questions relating to Cynergy Bank consent to let

  • Hello, I have a mortgage on an apartment with Cynergy Bank and I am thinking about letting the property out. Could this be done without transferring to a buy to let or receiving consent to let from Cynergy Bank?
  • Is it legal to rent out our property minus consent to let from our mortgage provider? I am aware that at the time we signed a declaration saying it wouldn't be a buy to let property and that we don't own other property. I know you can't use help to buy if you owned other property at the time, but what about property thereafter? Can one acquire a further property, receive a gifted property?
  • I want a bit of precautionary feedback as to whether consent to let is a feasible option. I completed the purchase of my apartment 6 months ago by transferring an existing Cynergy Bank mortgage product. My fixed rate ended four months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with Cynergy Bank, which I would not seek to be added to. I don't want to sell my property yet because I'm unsure of whether the new move will work out. I don't want to move to a buy to let mortgage yet for 2 reasons: 1) I need to discover if it is a marketable property with rents higher than my mortgage payments and 2) I need to come up with additional capital to meet the 65% LTV ratio required for a BTL loan. It would be preferable to get a consent to let from Cynergy Bank for 1-2 years in order to be more secure in becoming a possible landlord and to raise the capital. If at the end of the consent to let period I was unsure I would probably either sell my property or, depending on the new relationship working out, resume living there.
  • I am on a two year fixed rate mortgage with Cynergy Bank which began in December. I will be moving out in August and have tenants ready to rent my property. I need to get a letter from Cynergy Bank granting consent to let until my term is up to allow me to start a new mortgage. What is the procedure for going about this?
  • Will Cynergy Bank want to know why I am seeking consent to let? Is it wise to disclose my potential move overseas?
  • My partner and I have a consent to let letter that I have attained from my management company. I would think I need to send this with a letter to Cynergy Bank with a view to gaining consent to let from them. What address shall I post it to?
  • My wife and I spoken to someone at Cynergy Bank about changing our current mortgage to consent to let (the current fixed rate expires in june 2016). Can I just confirm that I need to formally put the request in writing setting out our change in circumstance to Cynergy Bank? Where do I need to post it to?
  • Is there a time limit on a consent to let from Cynergy Bank? and do you need to get a new mortgage first or a general residential mortgage can just be changed to a consent to let after application?