Consent-to-let Help for Clydesdale Bank plc

Clydesdale Bank consent to let: Q and A’s

• What options are open to me if my request to obtain consent to lease is rejected by Clydesdale Bank?

• In what circumstances will consent to let for a property be issued via Clydesdale Bank? How long do you have to have had the mortgage before consent to let can be negotiated with Clydesdale Bank? In order to give you some history:Our home is a very small apartment which is too small for our family, my wife is also unwell and we are far away from family who could offer us a bit of relief, in the form of babysitting. I am interested in gaining consent to let in the first instance to be able to renting the property out to cover the costs of the Clydesdale Bank mortgage.
• I have a current mortgage contract with Clydesdale Bank and wish to clarify if it would be possible to obtain consent to let out our garden flat in Redbridge.

  The purpose for wishing to find tenants for the property are as follows: -

  • My wife and I will be migrating to India in 3 months.
  • By letting out the house this will enable us to make some savings to support the migration process.
  • It would be pointless from a fiscal perspective to pay outright for a property which we are not living and by leasing out the home this would be considered as an ongoing investment.

  If Clydesdale Bank agreed that we are able to proceed with renting we would suggest some financial assurances to include: -

  • Continue to pay the monthly mortgage payment by standing order.
  • Use an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Supply our forwarding address for when we relocate.
• Meeting with my broker on Tuesday. I will seek Consent to Let from my current lender Clydesdale Bank. My new property in Sutton will be 75% LTV. I have been told by a friend that some lenders dont want consent to let customers and I may have issues regarding my new mortgage. Is there any truth in this?
• We have a letter to Clydesdale Bank requesting consent to let signed and ready, but I'm not sure what address I should forward this to. Can you please help me with the address?
• How much is it to get a consent to let from Clydesdale Bank on my residential property. Last week I moved in with my partner and have a family member wanting to let out the property.
• Can I remortgage to Clydesdale Bank from my current lender, with a consent to let or do I need a let to buy homeloan, and if so what are the LTV's?
• I currently have a residential mortgage with Clydesdale Bank and plan on letting due to work being based in Manchester. In asking for consent to let from Clydesdale Bank do I run the risk of them forcing me to change deal to buy to let