Need Help?

Need professional advice for your consent to let with The Royal Bank of Scotland plc First Active? 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: RBS- First Active consent to let

  • My property has had a mortgage against it with RBS- First Active from 2005. Since then I've married and moved into my husband’s home. My property is currently vacant and we either need to sell or let it out. Obviously this could be a long term proposition as the prospect of me reoccupying is unlikely. What should I tell RBS- First Active with a view to obtaining consent to let?
  • My understanding is that this is a contravention of RBS- First Active mortgage policy if I let out my flat having informed that I intend to reside there. The hope is to have the mortgage fully paid off after five years, by which time the property will be unencumbered, meaning I no longer require any consent to let. RBS- First Active advised me I can overpay as little as I like during the agreement. I know someone who wants to rent the property. What are the chances of RBS- First Active finding out? What are the consequences of not getting consent to let? From what I have read there is a possibility of RBS- First Active levying a penalty
  • We are currently in Dubai and leasing out our property in Waltham Forest. 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 send back funds each month to cover the shortfall. Yesterday our lender got in touch telling me that because the property is being let out and has been for almost two years we will have to pay 1.5% interest on top of our current mortgage rate. We could sell up but this will be far from easy as I am on the other side of the world. Could we remortgage with RBS- First Active and get consent to let?
  • Last week I got a mortgage in principle from RBS- First Active for a three bedroom house. I have applied via a broker. It is a capital and interest mortgage. I wonder what is the main criteria RBS- First Active adopt in order to allow borrowers consent to let? Is consent to let based on the rental yield of a property?
  • I would like consent to let on my Newham flat from RBS- First Active. I will be going abroad for 10-12 months so wish to know if I can rent out my flat
  • How do I go about getting a consent to let application form from RBS- First Active and how quickly can I get the consent?
  • Last month acquired a studio flat in Lewisham. I am first time buyer. I am moving Belfast next month, can I get consent to let from my lender RBS- First Active or do need to wait for at least 6 months?
  • I am currently refinancing and looking into the flexibility of certain lenders when it comes to consent to let. RBS- First Active is one of the lenders I am thinking of going with. How accommodating are they when it comes to consent to let?