Need Help?

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

Frequently asked questions relating to Cumberland Building Society consent to lease

  • I have a regular mortgage over my residence in loc with the intention of relocating overseas to country for a couple of years. During this time it makes financial sense to rent out my apartment. My mortgage provider says I cannot have consent to let. It’s hardly ideal to move to a buy to let mortgage as it’s only for a limited time-frame that I am abroad for.

  • I have a shared ownership property in Hillingdon and will be looking to buy out the rest of the property. However, in the future I may be working overseas for a short period of time so would like to know what approach Cumberland Building Society take to consent to let as I am considering a remortgage with them. I am by no means sure that they will lend on my property but in the meantime can you provide further advice on their consent to let requirements?
  • I have a garden flat in Tower Hamlets let out which has a 62 year lease. Mortgage broker said I should remortgage (currently with Cumberland Building Society) as a buy to let instead of consent to let and release 45-55k which on top of a new mortgage based on income multiples would give me a budget of £195k. Limited available in Islington for me to get my own place. A lease extension will be approximately 13k. Not sure sure whether to hold on or sell the flat?
  • I have a current mortgage contract with Cumberland Building Society and wish to clarify if it would be possible to obtain consent to let out our garden flat in Harrow.

    The purpose for wanting to lease out the property are as follows: -

    • My wife and I will be moving to India early next year.
    • In letting out the house this will enable us to make some savings to assist with the migration process.
    • It would be pointless from a fiscal point of view to redeem the mortgage for a property which we are no longer residing in and by leasing out the property this would be considered as continuing investment.

    If Cumberland Building Society granted permission to us for renting we would suggest some financial commitments to include: -

    • Continue to pay the monthly mortgage payment by direct debit.
    • Use an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Provide our forwarding details for when we emigrate.
  • I am deliberating on renting my property will Cumberland Building Society charge me for a consent to let letter?
  • I have a homeowner mortgage with Cumberland Building Society and require consent to let. What are the criteria and procedures that I need to be aware of in order to obtain consent?
  • I have 5 months to run on a 2 year residential mortgage with Cumberland Building Society but now lease the flat out. Can I assume they will simply charge a set fee for consent to let?
  • I wish to get consent to let from Cumberland Building Society for a couple of years until I can transfer to a BTL. Is this feasible