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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.

MPowered Mortgages consent to let: Q and A’s

  • My lender has placed me in a difficult predicament with a Consent to Let mortgage. Reacting to my requisition for consent to let the lender has asked me to provide them with an executed tenancy agreement prior to issuing consent. If I get a signed tenancy agreement would I not be breaching the lender’s terms and conditions?

  • I have a consent to let from my current mortgage provider which is about to run out. Since I took this out to travel and start a family. I'm not earning enough just now to pay the mortgage on my own. My lender has advised me that I can't extend my consent to let and if I continue renting out I will be in breach of the terms of my mortgage conditions. Due to affordability I don't think the buy to let will be approved. One option I am considering remortgaging to MPowered Mortgages. Are they likely to issue consent to let from commencement of the mortgage?
  • I have just received a mortgage offer with MPowered Mortgages. With any luck I will complete in the next few weeks, however I may potentially be posted overseas for work. How likely is it for me to get consent to let from MPowered Mortgages within a few months of drawing down on the mortgage. Are there any other options open to me?
  • I want a bit of precautionary insight to see consent to let is a feasible option. I bought my flat nine months ago by porting an existing MPowered Mortgages mortgage product. My fixed rate ended three months ago. I'm currently deliberating moving in with a new partner who has his own property and mortgage also with MPowered Mortgages, which I would not seek to be added to. I don't want to sell my property yet because I'm unsure of whether the new move will work out. I don't want to switch to a B2L mortgage yet for 2 reasons: 1) I need to find out whether letting my property is a feasible option for myself and 2) I need to raise extra capital to meet the 65% LTV ratio required for a BTL loan. Ideally I would like to obtain consent to let from MPowered Mortgages for a couple of years in order to be more secure in becoming a possible landlord and to raise the capital. If at the end of the consent to let period I was unsure I would probably either sell my property or, depending on the new relationship working out, reoccupy it.
  • I have split up with my wife and we have each moved into our parents house and plan to divorce. What do I have to do to get MPowered Mortgages to give consent to let our house out to tenants?
  • As a result of work opportunities I will be relocating to Belfast and would like to let out my flat temporarily, are you able to confirm what steps I need to take in order to get consent to let from MPowered Mortgages?
  • I have MPowered Mortgages mortgage and am considering letting the property. I am lead to believe that I would require consent to let to do this...is that true ?
  • I recently purchased a property with 10% deposit for personal reasons. A homeloan was taken with MPowered Mortgages. However my circumstances have now changed. I am being transferred out of the area. Am I able to get consent to let from MPowered Mortgages and put the house up for rent?