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

Chesham Building Society consent to let: Q and A’s

  • Is consent to let needed from Chesham Building Society or can I lease out my basement flat without telling Chesham Building Society and being forced to transfer to a B2L loan?

  • What is the maximum period of time allowable to Chesham Building Society that I would be able to let my property before being required to transfer the mortgage or sell my house? In essence, my partner has asked me to move in with him and I really don't want to sell my house. I would like the comfort of knowing I still own my own home.
  • My husband and I currently live in Hong Kong and renting out our apartment in the UK. This was unplanned but an opportunity arose and we took it. The rental income is not enough to cover the mortgage so we send back funds each month to cover the difference. Yesterday our lender got in touch informing me that as the property is being let out and has been for almost two years we will have to pay 1.5% interest in addition to our current mortgage rate. We could sell up but this will be difficult as I am on the other side of the world. Would it be possible to remortgage with Chesham Building Society and get consent to let?
  • Is it correct that lenders (my home loan is with Chesham Building Society) may start adopting a more relaxed approach towards consent to let? A mortgage adviser recently informed me that BTL mortgages are not regulated by the FCA whereas residential mortgages are. So if I transfer from a standard to a Buy to let I am moving to a regulated product. His belief was that under the current regulation lenders are wary of letting borrowers do this, which is likely why some mortgage companies will let customers apply for consent to let but not move to a Buy to let mortgage. Is he right?
  • I want to apply for consent to let from my lender Chesham Building Society to rent out my flat. This is due to me relocating. Do Chesham Building Society allow consent to let in these circumstances?
  • I have fixed rate mortgage with Chesham Building Society. I may have to rent out my flat due to necessity. If I seek consent to let, will I have to pay a lot more interest?
  • Please could you shed light what the process would be if we purchased a second property and need to get consent to let for our existing mortgage with Chesham Building Society
  • We have a granny flat attached to our property. Do we need consent to let this from Chesham Building Society? If so, what is the process if I wish to switch the mortgage to consent to let?