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Need professional advice for your consent to let with M&S Bank? 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: M&S Bank consent to let

  • I'm currently seeking a mortgage as FTB and considering M&S Bank with my broker. Suppose I choose a three year fixed rate I move in the property and after twelve months, I come to get an opportunity of work relocation necessitating moving overseas. If M&S Bank grants me consent to let,would the rate increase?
  • What is the process for obtaining consent to let from M&S Bank? What information do they require? is there a fee to pay? How long the consent is valid for? Do I need to renew it every year? What if I obtain a consent but decide not to lease out the property?
  • My brother and I may be presented with an opportunity to work in a different office in the UK for a few months and would like to know if we can rent our existing property. It is a two year fixed rate and we are four months into the mortgage with M&S Bank. We have lived at the property for nearly four years. Our LTV is 80%. Are we likely to get consent to let from M&S Bank? What can we expect in fees etc
  • Last June I moved out my house in a hurry and let out the property. I am aware I should have obtained consent to let by M&S Bank but was unsure what the future would hold and I simply forgot about it. I'm now in the position where I wish to sell that house and switch the M&S Bank mortgage to a new house. I am struggling to find a path to do this without finding myself at the mercy of M&S Bank for not obtaining consent to let. When porting, at the time of completion of the sale, you must declare your intention to "port the rate" and go through a new set of affordability checks. Although I do not foresee difficulties with affordability, the credit check will indicate I don't live there any more.
  • I am one year into a three year residential mortgage with M&S Bank. Just enquiring if it's ok to lease out the property on my existing mortgage. Will M&S Bank give consent to let?
  • I am thinking of renting my apartment will M&S Bank invoice me for a consent to let letter?
  • Is it possible to negotiate a consent to let from M&S Bank if I have an existing mortgage which has been in place for ten years?
  • I was just wondering if there are any restrictions in getting consent to let on a leasehold property when I have a mortgage with M&S Bank