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

Nationwide Building Society consent to let: Q and A’s

  • A friend of mine has let her house off the same landlord for almost one and a half years. Over the last six months my friend has received letters from Nationwide Building Society (she hasn't opened them-it is clear from the envelope). Inititially she reposted them to the landlady's address. My suspicions were aroused as none of the landlord’s mail was supposed to be going there. So I went to my friends house and called Nationwide Building Society on her behalf. The lady I called at Nationwide Building Society asked all sorts of queries, the landlord’s details, the tenant's name and then said they were going to look into whether she was entitled tolet out the property or if it was an offence without consent to let. Should my friend be concerned?
  • We are a young couple and we have identified a apartment in Havering that we like and want to get a mortgage with Nationwide Building Society. My concern is that I am pregnant and about to give birth very soon as I am on the last few weeks of pregnancy. This wouldn't make it impossible for us to move straight away so we are thinking to keep living with our parents for the next few months. In the meantime, if we secure this property, we can lease it out. We just wondering how will that work out? Are we likely to be given consent to let from Nationwide Building Society
  • What is the maximum period of time allowable to Nationwide Building Society that I would be able to let my property without having to transfer the mortgage or sell my property? In essence, my boyfriend would like me to move in with him and I really want to hold onto my house. I would like the comfort of knowing I still own my own home.
  • My husband and I currently live in NYC and renting out our apartment in the UK. This is not something we planned but an opportunity presented itself and we took it. The rent we make on the apartment is not enough to cover the mortgage so we send back funds each month to cover the difference. Last week our lender got in touch informing me that because the property is being let out and has been for nearly three years we will have to pay 1.5% interest in addition to our current mortgage rate. One option is to sell up but this will not be easy as I am so far away. Would it be possible to remortgage with Nationwide Building Society and get consent to let?
  • Were I to let my house out with consent to let from Nationwide Building Society will will theybump up the interest rate? I am presently on a standard variable rate.
  • We are close to purchasing a property and plan to live in it once we have refurbished but we may need to let the property out but not sure what the rules are on consent to let from Nationwide Building Society? We don't need a buy to let mortgage because we are not certain if we will need to let it out at all
  • Nationwide Building Society - 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?
  • I am currently in the process of applying for a mortgage through Nationwide Building Society - There is a chance that in the within months I may decide to let out the property - how would I switch the 1st time buyer mortgage to a BTL mortgage?