Need Help?

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

Top Five Questions relating to Co operative Bank consent to lease

  • I have a colleague who is thinking about leasing their property out and moving in with partner. The property is in Bexley and has a £80k mortgage with Co operative Bank. What would she need to do to get consent to let if she decides to do this.
  • I have just come off the phone to Co operative Bank and they tell me that it has been brought to their attention that I have been letting out the maisonette even though it is on a normal mortgage. I moved out a couple of years ago for work reasons, was unable to sell and so had little choice to let out the property. Are you able to advise me on the implications might be for me not procuring consent to let?
  • We have an existing mortgage with Co operative Bank and wish to clarify if it would be possible to gain consent to let out our three bed flat in Greenwich.

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

    • My family and I will be migrating to Melbourne in January.
    • By renting out the property this will facilitate savings to support the migration process.
    • It would be pointless from a fiscal point of view to discharge the mortgage for a property which we are no longer living and by leasing out the property this would be considered as continuing investment.

    If Co operative Bank granted permission to us for renting we would suggest some financial assurances to include: -

    • Continue to pay the monthly mortgage payment directly from my bank account.
    • Retain the services of an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Provide our forwarding address for when we relocate.
  • I sought consent but I did not get it as I did a remortgage in September but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. On the other hand I can remortgage with Co operative Bank but will they give me consent straight away?
  • My wife and I have a letter to Co operative 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?
  • If I let my property with consent to let from Co operative Bank will will theyload the interest rate? I am presently on a standard variable rate.
  • My mortgage has been with Co operative Bank for seven years. I would like to apply for consent to let my flat. I have been waiting for Co operative Bank to get back to me. Could you please check and help?
  • I'm considering a remortgage offer with Co operative Bank and it's likely I will need take advantage of any consent to let option if available at some point in the fixed period. Are there any penalties I should that may be applicable?