Consent-to-let Help for Chelsea Building Society (a trading name of Yorkshire BS)

Frequently asked questions relating to Chelsea Building Society consent to lease

• My mortgage is nearing renewal with Chelsea Building Society. The property has been sub-let for a two years and I now realise that I should come clean toChelsea Building Society. I understand that I must apply for consent to let, but bearing in mind that the property has already been let out for a considerable time could they decline - force me to go onto a BTL product or even fine me? I have over 25% equity in the house - and the rent will more than cover the mortgage.
• If I decided to let out my garden flat with consent to let by Chelsea Building Society, what evidence would be required of the letting? If after twelve months I decided to let it on a series of short term rental, do I still need to supply evidence to Chelsea Building Society, or will they be happy as long as they receive payment each month? By way of example if I sublet the room separately at some point in the future, is there any reason for Chelsea Building Society to know and would they care?
• I am interested to know how challenging it would be to obtain consent to let with Chelsea Building Society. I am considering fixed deals and hope to live there but would like to know my options if work has opportunities elsewhere for example in two to three yrs Please let me know how challenging it is in your experience with Chelsea Building Society?
• Am I obliged to inform Chelsea Building Society of my intention to rent my property out as a holiday let for twelve weeks. Can you shed any light on this? I am seeking independent advice on the insurance, legal and tax side of things .
• Just enquiring if it's possible if you own one property with consent to let from Chelsea Building Society, to buy a second with a domestic mortgage to live in. Then once the consent runs out on the first property, to change to buy to let or sell it?
• I have a mortgage with Chelsea Building Society and am considering letting it for six weeks while on holiday. Will Chelsea Building Society consent to this?
• Am I required to wait for consent to let to be issued on my current residential mortgage with Chelsea Building Society before applying for a resi mortgage on a second property?
• In the event that I was successful in obtaining consent to let from Chelsea Building Society, can I sell during the consent period? Is it possible that I would incur any charges?