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

First Direct consent to let: Q and A’s

  • Me and my partner are looking to buy a three bed flat with 30k deposit with the intention of living there. Somewhat fortuitously the in-laws are arranging to move to France for a while so we would be moving into theirTower Hamlets property to "housesit". Should we proceed with a residential mortgage with First Direct would there be any issues with switching to consent to let ?
  • I would like to let my existing residence as I wish to acquire a bigger house for the family. I have a two year fixed mortgage with First Direct. Provided I get the consent to let as I understand banks are more than likely to push me towards getting BTL mortgage when the fixed term comes to an end. Could I refinance after a couple of years with another lender? Will it have to be buy to let mortgage and not a domestic mortgage?
  • I am in the Royal Navy and am looking to purchase a property using a First Direct mortgage. I would like to get consent to let the property to my mother and father in law. In years to come I plan to reside in the property with my family when my military career comes to an end. Will I need to apply to my Commanding Officer to request permission to rent it out?
  • Is it right that mortgage companies (my home loan is with First Direct) may start adopting a more lenient approach towards consent to let? A broker recently informed me that Buy to let mortgages are not regulated by the FCA whereas residential mortgages are. Therefore if I switch from a residential to a BTL I am moving to a regulated product. He suggested that under the current regulation banks are wary of letting customers do this, which is likely why some banks will permit customers apply for consent to let but not switch to a Buy to let mortgage. Is this correct?
  • We have tenants ready to move in and I have mortgage offer from First Direct on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
  • I own a leasehold flat. I would like remortgage with First Direct and seek consent to let. I'm still inside the redemption penalty period so not sure if there such a thing as porting to some property?
  • Just looking for some help. I already have a mortgage in place with First Direct. I have had licence to temporarily rent out my GFF from the managing agents and they asked for a copy of the consent to from First Direct.
  • I currently have a residential mortgage with First Direct and plan on letting due to work being based in Manchester. In asking for consent to let from First Direct do I run the risk of them forcing me to change deal to buy to let