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

Common questions relating to Magellan Homeloans consent to lease

  • I am in a difficult predicament with a Consent to Let home loan. In response to requesting consent to let the bank has requested that I produce a signed AST before they will grant consent. Is is not the case that if I adhered to their request that I would be violating the terms of my existing mortgage?

  • I have a studio flat in Waltham Forest let out which has a sixty year lease. Mortgage broker said I should remortgage (currently with Magellan Homeloans) as a buy to let rather than consent to let and release 45-55k which on top of a new homeloan based on income multiples would give me a budget of £200k. Not much about in Merton for me to get my own place. To extend the lease will cost 13k. Not sure sure whether to hold on or sell the flat?
  • My twin and his fiance currently lodge with me at my apartment. This Spring I would like to move out of the flat and in with my OH. Is it possible to get consent to let from Magellan Homeloans after only having the mortgage for less than half a year?
  • My gf and I might have to let out her apartment, and I have a query concerning getting permission to do so. I know I need to inform Magellan Homeloans and get a consent to let or change to a BTL mortgage. But the property is leasehold, so do we have to get consent to let from the freehold company?
  • Should I decide to apply for consent to let from Magellan Homeloans how long does it take to get consent to let after you apply to Magellan Homeloans. ?
  • Me and my husband want to let our house out and use the rental income to cover the rent on a house in Harrow. What are the chances of being given consent to let by Magellan Homeloans without being forced onto a BTL product.
  • Are you aware if there is usually a maximum loan to value amount before Magellan Homeloans will grant consent to let?
  • I am looking into the option of leasing out my flat with consent to let from Magellan Homeloans whist away travelling for a few months