Need Help?

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

Foundation Home loans Consent to Lease Example Support Desk Enquires

  • We have an existing mortgage with Foundation Home loans and wish to clarify if it would be possible to receive consent to let out our ground floor flat in Tower Hamlets.

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

    • My wife and I will be relocating to Hong Kong in 3 months.
    • In renting out the property this will enable us to make some savings to help the migration process.
    • It would be pointless from a fiscal point of view to pay outright for a property which we are no longer residing in and by leasing out the property this would be considered as an ongoing investment.

    If Foundation Home loans granted permission to us for renting we would propose some financial assurances which are as follows: -

    • Continue to pay the monthly mortgage payment by direct debit.
    • Retain the services of an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Supply our forwarding address for when we move.
  • For a variety of reasons I am planning to move in with my girlfriend this summer and I have let my property out to two students on a one year AST. The application for consent to let from Foundation Home loans is in hand but what if they refuse. I can’t renege on my contract in terms of not renting the students as the paperwork is finalised. On the other hand Foundation Home loans could take action for contravention of mortgage condition i.e. letting it out without consent to let.
  • I have a prevailing Foundation Home loans loan on a property for the last nine years. I am now married and live in my husband’s home. As of today the property is vacant and we either need to sell or have someone occupy. Chances are that this could be a long term proposition as the probability of moving back is low. What should I advise Foundation Home loans in order to get consent to let?
  • I have an annex that my mum is planning to move out from. As my property is large I was considering moving into the annex and let the rest out. This is also due to change in my personal situation. Would I require consent to let from Foundation Home loans?
  • I have a mortgage with Foundation Home loans and am considering letting it for eight weeks while on holiday. Will Foundation Home loans consent to this?
  • We have tenants ready to move in and I have mortgage offer from Foundation Home loans 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 am interested in further information regarding consent to let mortgages, potentially moving our existing mortgage with Foundation Home loans across to a consent to let one.
  • Assuming that I was successful in obtaining consent to let from Foundation Home loans, could I sell during the consent period? Is it possible that I would incur any penalties?