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

Molo Finance Buy to Let consent to let: Q and A’s

  • I am contacting you on behalf of my nephew who has a mortgage with Molo Finance Buy to Let. He asked me to find out if there is a fee for consent to let? He has been in his property for two years but has been offered a job 120 miles away away for a two year contract and was thinking about letting the home out while he is away.
  • I took out a domestic mortgage with Molo Finance Buy to Let last November and then had to relocate due to my job, I am now considering renting my apartment out for a year whilst I am abroad. What are my chances of obtaining consent to let from Molo Finance Buy to Let, and what effect would this have?
  • The likelihood is that I will have the opportunity to work abroad in a couple of years. I am therefore possibly scaling down to a newbuild flat in Lambeth which I could rent out more easily as and when required. I would aim to retain half the equity in the new apartment which would be my home for a while. My existing mortgage provider limits consent to let for a year. I anticipate renting it out longer term and not having consent could land me in a whole host of legal issues. BTL seems unnecessarily expensive when I will be living there, perhaps for 2-3 years initially. What product do I ask for, and from whom? Do lenders such as Molo Finance Buy to Let give consent to let for a longer period?
  • I have a homeowner mortgage coming up for renewal with Molo Finance Buy to Let. I have had the property rented out for two years and I now realise I should come clean to Molo Finance Buy to Let. I understand that I can seek consent to lease, but bearing in mind that the property has previously been let out could they refuse - insist I go onto a BTL rate and even fine me? I have over 25% equity in the house - and the rental income far exceeds the monthly loan payments.
  • If I am tied into a fixed rate with Molo Finance Buy to Let but am thinking of letting out my property, is there a cost for consent to let from Molo Finance Buy to Let and does the interest rate increase?
  • We have a mortgage with Molo Finance Buy to Let at the moment and just enquiring if there any costs for obtaining consent to let
  • Do you know whether Molo Finance Buy to Let will accept rental income on consent to let for affordability purposes or does it need to be on a buy to let ? Would Molo Finance Buy to Let let me raise capital based on the rental income ?
  • We are looking to find out more regarding consent to let from Molo Finance Buy to Let. Would a valid reason be issues with neighbours and the house is too big for me to run at this moment in time?