Need Help?

Need professional advice for your consent to let with National Counties Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Questions and Answers: National Counties Building Society consent to let

  • We are presently twelve months into a year fixed rate mortgage with National Counties Building Society. Ideally we would like to purchase a bigger 2nd property in the next year however would prefer to retain the first house and I was wondering what reason we could put down on the consent to let application to obtain consent to from National Counties Building Society
  • My house had been let to students for three years between 2009-2012 while employed in New York. I have a letter dated June 2010 from the mortgage company granting consent to let. In the letter it explicitly states that the consent to let is valid for "the remaining term of the mortgage". I have not remortgaged since the letter was sent. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be acceptable to the new lender National Counties Building Society for the house I wish to purchase.Can this be correct
  • It seems as though I will have the chance to go and work overseas in a couple of years. I am therefore potentially downsizing to a newer flat in Croydon which I could rent out with less difficulty when the time comes. I would aim to keep 50% equity in the new flat which would be my home for a while. My current mortgage provider limits consent to let for 12 months. I expect to be renting it out longer term and not having consent could result in a whole heap of legal issues. B2L seems unnecessarily expensive when I will be living there, maybe for 2-3 years initially. What product do I ask for, and from whom? Do lenders such as National Counties Building Society issue consent to let for a longer period?
  • Is it correct that mortgage providers (I have a mortgage with National Counties Building Society) have changed tune and are now taking a more accommodating approach towards consent to let? A broker recently mentioned to me that Buy to let mortgages are not regulated by the FCA whereas residential mortgages are. Therefore if I move from a standard to a Buy to let I am moving to a regulated product. He suggested that under the current regulation lenders are reluctant to allow customers do this, which may explain why some mortgage providers will allow borrowers apply for consent to let but not swap to a BTL product. Is this correct?
  • It would be helpful to know if on the balance of probabilities National Counties Building Society will grant consent to let out our residential property in Ealing
  • Last month I got married and I am in the process of buying out 100% of my co-ownership mortgage with my wife. As a result we have now been given a 90% loan to value on our house. We want to buy a larger home. Will it be possible to get a consent to let on my new mortgage with National Counties Building Society to allow us to get a mortgage also with National Counties Building Society for a new home?
  • How easy is it to get a consent to let from National Counties Building Society and what will it cost me? If I want to let out my property for three months how simple is it to fluctuate between a standard mortgage and consent to let?
  • I am currently in the process of getting a mortgage through National Counties Building Society - I foresee that in the coming months I may decide to let out the property - how would I swap the normal mortgage to a BTL mortgage?