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Need professional advice for your consent to let with MPowered Mortgages? 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 MPowered Mortgages consent to lease

  • I have had a current homeloan with MPowered Mortgages coming up to 2 years and the fixed rate is soon to expire. We are considering taking equity out of our current place to enable us to buy a more substantial home and then rent out the current maisonette. The initial advice we received was that we ought to get a new residential mortgage allowing for consent to let - can you explain what this is?
  • I need to switch my homeowner mortgage with MPowered Mortgages to a consent to let and looking for some help... I bought my first property in London fiveyears ago. After a career opportunity I moved to Belfast, and five months ago got a residential joint-mortgage with my boyfriend. I am inclined to stay with MPowered Mortgages and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if MPowered Mortgages refuse what lenders can I approach.
  • I obtained consent to let from MPowered Mortgages two yrs ago but never used it and subsequently remortgaged to another bank. I recently asked for consent to let. I was told it would be authorised since their requirements were met. However I got a communication informing me that I need to supply evidence from the DWP confirming that that are aware of my current situation before they can issue consent. They said this is policy but I have not been able to find these T&Cs on their site. I did complain about the insinuation that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £40 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to discontinue claiming
  • We are planning to lease out my flat for a year from 12th October 2015. Is there a standard format for a letter I can use to send to MPowered Mortgages to seek consent to let.
  • MPowered Mortgages - consent to let potential. Do you have experience of the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
  • Me and my wife are thinking about applying to MPowered Mortgages to obtain consent to let our home, how long does it take from the point of submitting the application to us finding a letting agent and listing our house for rent? and are there any other steps in the process?
  • Is there flexibility in the accepted equity amount before transferring from an existing MPowered Mortgages mortgage to a consent to let?
  • I was wondering if you are able to help. I do not have consent to let from MPowered Mortgages and was wondering if this option is available to me to switch to as I need to move back home to look after my father