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

Nedbank consent to let: Q and A’s

  • I would like to purchase a second property having recently bought a one bedroom second floor purpose built flat on residential mortgage. Planning to purchase in a few months time. I am told that I may require consent to let from Nedbank, my current mortgage provider? What is the best way to go about this and procure the permission needed.
  • I moved out of my flat about five months ago but didn't get around to get a consent to let letter, primarily because the mortgage fix rate period is ending next month and I am considering a remortgage anyway. I want to ask for the letter now, is that going to open up a Pandora’s box?
  • Is it correct that mortgage providers (my home loan is with Nedbank) are taking a more lenient approach towards consent to let? A broker suggested that BTL mortgages are not regulated by the FCA whereas residential mortgages are. Therefore if I switch from a standard to a BTL I am moving to a regulated product. His belief was that under the current regulation lenders are wary of letting borrowers do this, which is likely why some banks will allow borrowers apply for consent to let but not move to a BTL mortgage. Is this an accurate assessment?
  • Enquiring whether Nedbank conduct any checks when applying for a residential mortgage, I'm preferably looking to rent the property out and am unsure as to whether I should apply for consent to let. How likely are they to find out if I lease the place out?
  • My OH and Iwould like to let our home and buy other. Can Nedbank refuse to grant me consent to let?
  • Can I get an interest only mortgage with consent to let when my current Nedbank deal runs out September 23?
  • My partner and I have a mortgage with Nedbank but am told they have a policy that they refuse to grant consent to let the property to a local authority. Is this true and if so, is there a way round this?
  • Nedbank - consent to let potential. Are you able to advise on 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?