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

Questions and Answers: Coventry Building Society consent to let

  • Do you know if an ERC would be categorised as a legitimate expense to be offset against tax for a BTL property? Last year I was thinking of applying for consent to let from Coventry Building Society on my flat but I ended up switching lender to get a BTL mortgage. I had to pay an early repayment penalty as I was still in a fixed rate period.
  • I rented my house out for three years between 2010-2013 while living in New York. I have a letter dated March 2010 from my building society granting consent to let. In the letter it clearly stipulates that the consent to let is valid for "the remaining term of the mortgage". I have not changed product since the letter was issued. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be acceptable to the new lender Coventry Building Society for the house I wish to buy.Can this be correct
  • It seems as though I will have the chance to go and work abroad in a couple of years. I am therefore thinking of downsizing to a newbuild flat in Brent which I could rent out more easily as and when required. The intention is to keep half the equity in the new property which would be my home for a while. My current mortgage provider limits consent to let for 12 months. I expect to be renting it out longer term and not having consent could land me in a whole host of problems. BTL seems inappropriate given that I will be living there, perhaps for 2-3 years initially. What product do I ask for, and from whom? Do lenders such as Coventry Building Society give consent to let for a longer period?
  • Me and my husband are in a complex mortgage situation currently. We have to lease our flat with consent to let and move to a different location to be nearer to our daughter’s college. We now rent a home. We are finding it very difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
  • I am require from Coventry Building Society consent to let out my flat in Hillingdon. I am going to move in with my grandmother as I am off work through ill health.
  • We have a fixed rate mortgage with Coventry Building Society and are deliberating on obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Before we apply We would be interested to know the connotations of making the change and any facts that we need to consider.
  • We've spoken to someone at Coventry Building Society about changing our current homeloan to consent to let (the existing fixed rate ends in september 2016). Can I just confirm that I need to formally put the request in writing explaining our change in circumstance to Coventry Building Society? Where do I need to post it to?
  • How likely is it that Coventry Building Society force me into a consent to let product whilst in a fixed rate product for 2 years?