Need Help?

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.

Top Five Questions relating to Magellan Homeloans consent to lease

  • I am three years up in my five year fixed term mortgage and intend to take a job abroad so would like to let my flat for two years. My L2V is about sixty per cent. Are you able to clarify if Magellan Homeloans will increase my interest for consent to let for the period that the property is tenanted?
  • Current property worth £115,000. Remaining mortgage £32k with seven years to run. Seek consent to let from Magellan Homeloans for current premises and use income to pay off remaining of mortgage. Apply for 70 per cent Magellan Homeloans mortgage on further flat that becomes my primary residence? Is this feasible?
  • I'm planning to remortgage our old studio flat, currently occupied with tenants with consent to let from Magellan Homeloans, onto a BTL rate as we are unlikely to be moving back into it now since we have our family home. So, I'm assuming I need a specialist broker for this and I am not really au fait with what is on offer in this area. Are you able to offer any advice on an efficient broker service specialising in BTL?
  • I have had a home loan with Magellan Homeloans for 1999. My divorce went through four years ago and bought the ex wife out. My situation has changed, I want to retain my house but move in with my new partner, renting my house out. It has been suggested by my mortgage advisor that I can seek consent to let by Magellan Homeloans rather than a BTL mortgage as I I did not buy the property in the first place in order to let, advice please?
  • I am looking at moving overseas for work and would like consent to let from Magellan Homeloans whilst I am away. Is the way forward to complete the consent to let form and send it off in the post to Magellan Homeloans? The point of renting the property isn't to make money but to keep the house in case things don't work out
  • Last month I purchased a property with a Magellan Homeloans mortgage. However I am currently living with parents. I don't want to move in until for eight months due to some family issues. In meantime can I let out the property with consent to let?
  • Is consent to let a cost efficient way of becoming a landlord? Isn't this a loophole for some borrowers to exploit?
  • One year into a mortgage with Magellan Homeloans due to job offer.. need to relocate. Do you think I can get buy to let or consent to let.