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

Recently asked questions relating to Family Building Society consent to lease

  • I have my ground floor flat in Merton on the market but notwithstanding a few viewers there is a lack of interest so far. As a fall back position I am considering renting out the property if cant find a buyer. I dont think I will have a problem getting consent to let from the freeholder. My IFA has told me that in such a situation I may need to switch to a B2L mortgage yet the chances are that I don't have sufficient equity. What's my exposure if I were to retain the existing Family Building Society home loan and rent out the flat without telling them As long as the mortgage is being paid in full and on time, why would they care or check?
  • We are currently in NYC and letting out our property in the UK. This is not something we planned but an opportunity arose and we took it. The rental income is insufficient to cover the mortgage so we transfer money each month to make up the difference. Yesterday our lender got in touch telling me that as the property is being let out and has been for almost three years we will have to pay 1.5% interest on top of our current mortgage rate. One option is to sell the property but this will be far from easy as I am so far away. Could we remortgage with Family Building Society and get consent to let?
  • My partner and I are planning on purchasing a property, letting two of the rooms out in order to cover the loan with Family Building Society, and then moving on in two or three years - at which point the property would be entirely tenanted. Is it likely that Family Building Society would look at this unfavourably as I will have been given a domestic homeloan as opposed to a B2L or consent to let? I've heard that in extreme situations they can repossess the property, is this an exaggeration?
  • Last month I got married and my wife and I would like to purchase a family home in the coming year, whilst keeping our three bedroom ground floor purpose built maisonette in Wandsworth we currently live in to rent out. Mortgage on the flat is with Family Building Society. I wish to avoid putting myself in a situation with two residential properties and then be refused consent to let.
  • I recently purchased a property with 10% deposit for personal reasons. A homeloan was taken with Family Building Society. However my circumstances have now changed. I am being transferred out of the area. Am I able to get consent to let from Family Building Society and put the property up to let?
  • What, if any, income criteria do Family Building Society set for consent to let on an existing standard mortgage?
  • I would like to get consent to let from Family Building Society for a few years until I hope to turn it into a B2L. Is this feasible
  • Me and my husband want to consider the option of renting out my apartment with consent to let from Family Building Society whist away travelling for six months