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 have been letting out my flat with "consent to let" from Magellan Homeloans on a homeowner mortgage for the past 24 months. Magellan Homeloans have advised of their intention of revoking consent to let unless we transfer to one of their "buy to let" loans.

  • I was hoping you could please providing me some advice on what the procedure is for applying for content to let, what do I need to do. I am considering a Magellan Homeloans mortgage on a £200,000 house on the coming months. The intention is to hold the house as a second home but I would like to consider what options there are to let the property in the future. If our circumstances were to change the property would either be sold or rented.
  • My fixed rate runs out late 2017 and I wish to fix for a further 4 years with Magellan Homeloans, with any luck rates will remain low. In two years time I may want to move temporarily to a different city. How difficult is it to get consent to let from Magellan Homeloans under this situation? Assuming that monthly rent payments would be about £175 above the Magellan Homeloans mortgage payments.
  • I'm one year into a two year fixed mortgage with Magellan Homeloans. The LTV is just 50%. I've got what I think is a really good deal on a one bedroom ground floor purpose built maisonette in Sutton which I don't want to miss. It appears that the only way to purchase the other property is to release most of the remaining equity. I'm thinking of letting the existing property which would adequately cover the mortgage with Magellan Homeloans. Is it possible to obtain consent to let from Magellan Homeloans and ask for additional borrowing after it's rented?
  • I would like to let out my property. Do I just need to send a letter to Magellan Homeloans requesting consent to let out the home?
  • We have a consent to let letter that I have procured from my management company. I presume I need to send this with a letter to Magellan Homeloans with a view to procuring consent to let from them. What address shall I mail it to?
  • Can I remortgage with Magellan Homeloans with consent to let if my fixed rate is reaching it’s end. Circumstances would not have changed.
  • I currently have my mortgage with Magellan Homeloans and have been for the past eighteen months and I am at present just wanting clarification as to whether gaining a consent to let is likely.