Need Help?

Need professional advice for your consent to let with Chelsea Building Society (a trading name of Yorkshire BS)? 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 Chelsea Building Society consent to let

  • I have a residential mortgage approaching renewal with Chelsea Building Society. The house has been tenanted for a couple of years and I think I need to notifyChelsea Building Society. My understanding is that I must apply for consent to lease, but since the property has already been let out could they decline - insist I go onto a BTL rate and even apply a penalty? There is excellent equity - 30% LTV and have never missed any payments.
  • I have a two bedroom second floor purpose built maisonette but I am hardly there, exploring the option of renting it out. The mortgage is with Chelsea Building Society, would I have to move onto a new mortgage product or should I try to get consent to let?
  • I found tenants for my property last June and didn't tell Chelsea Building Society. I have a five year domestic mortgage (healthy equity in it, no arrears) and want to let Chelsea Building Society know and get consent to let for the remaining two years of my mortgage . I am unsure how to go about this.
  • I previously took a mortgage with Chelsea Building Society and the loan to value is presently 60% with the Chelsea Building Society current book value and would like to buy a further property but do not want to sell my existing property at the current market value. I have consent to let from another lender on a previous property so know a bit about them and I also have buy to let with Scottish Widows on another property. Does the expected rental income on a consent to let with Chelsea Building Society need to be over and above the mortgage repayments? I have a fixed rate which I tied into a fixed rate and left the term at 18 years so it was paid off as early as possible, obviously this leaves with quite a high monthly repayment.
  • We have already been told to write a letter to Chelsea Building Society to obtain consent to let, I'm just trying to find some guidelines on the letter? What I should or shouldn't include?
  • Are you able to help? I am just enquiring if Chelsea Building Society offer consent to let as an option should I decided to lease out my property under a residential mortgage. Is there a specific rule for right to buy property and consent to let?
  • I currently have a mortgage with Chelsea Building Society that I would like to transfer to a consent to let as we have found another property we are looking to buy. How do I go about getting a consent to let from Chelsea Building Society?
  • Will Chelsea Building Society choose to exercise a right to convert the rates on a homeowner mortgage where Consent to Let at any time, onto ‘rates equivalent to their BTL range'? Is it possible to remortgage on a consent to let with Chelsea Building Society?