Consent-to-let Help for Better HomeOwnership (Mortgages)

Frequently asked questions relating to Better HomeOwnership consent to lease

• I am in a catch 22 with a Consent to Let mortgage. Having sought consent to let the bank has requested that I produce a signed Assured Shorthold Tenancy prior to issuing permission. Is is not the case that if I adhered to their request that I would be breaching the terms of my existing mortgage?

• Me and my partner and I I have a homeowner mortgage with Better HomeOwnership but I would like to occasionally take in lodgers....am I obliged to obtain consent to let from Better HomeOwnership?
• I have a current mortgage contract with Better HomeOwnership and wish to clarify if it would be possible to obtain consent to let out our studio flat in Islington.

  The reasons(s) for needing to find tenants for the property are are due to: -

  • Me and my wife will be migrating to India next spring.
  • In renting out the house this will facilitate savings to assist with the migration process.
  • There is little merit from a financial point of view to pay off the mortgage for a property which we are not living and by renting out the home this would be viewed as continuing investment.

  If Better HomeOwnership granted permission to us for renting we would suggest some financial assurances to include: -

  • Continue to pay the monthly mortgage payment directly from my current account.
  • Retain the services of an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Supply our forwarding details for when we relocate.
• We are looking to apply to Better HomeOwnership for consent to let on my current residential property in Brent. I am looking to draw down equity from my existing property ahead of this, and making use of that money to purchase a new home. I will live in that property whilst renovating it for 6 months after which the intention is to sell it then move back to my existing house. Is this something Better HomeOwnership will consider consent to let for or does this fall outside the standard criteria?
• I wish to lease out my property. Do I simply post a letter to Better HomeOwnership requesting consent to let out the property?
• Will Better HomeOwnership want to know why I am seeking consent to let? Is it wise to disclose my potential relocation overseas?
• I am endeavouring to figure out which lenders are best for granting consent-to-let without raising rates, and hopefully permitting in excess of two years where necessary. Is that something you can assist me with? We are particularly interested in Better HomeOwnership
• I am after more information in relation to consent to let home loans, potentially moving our current mortgage with Better HomeOwnership across to a consent to let one.