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Need professional advice for your consent to let with New Street 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 New Street Mortgages consent to lease

  • I intend to let out my flat to some tenants who have asked me for a duplicate of my ‘consent to let’ from New Street Mortgages, my bank. Is this normal?

  • I bought a house three years ago in Leeds when I worked locally. I got a promotion which involved working in Wimbledon. I commute down on Sunday morning and live with a family member during the week. I am now consideringmoving home to avoid the commute. I am deliberating the option of renting out my existing home. The mortgage is with New Street Mortgages, would I have to change my mortgage product or ought I try to get consent to let?
  • I obtained consent to let from New Street Mortgages in 2011 but never used it and have since remortgaged to another bank. I recently asked for consent to let. I was informed that it would be given since their requirements were met. I have now received a communication advising me that I must provide evidence from the DWP indicating that that are aware of my current situation before they can issue authorisation. 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 £35 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 continue with them
  • My understanding is that this is a contravention of New Street Mortgages mortgage policy if I lease out my house having indicated that I intend to reside there. The plan is to repay the home loan after six years, by which time I will become the outright owner, meaning I no longer require any consent to let. New Street Mortgages advised me I can overpay as much as I like during the agreement. I know someone who is interested in renting the property. What is the likelihood of New Street Mortgages finding out? Can you set out ramifications of not obtaining consent to let? From what I have read there is a possibility of New Street Mortgages insisting that the property to be sold (however it seems generally accepted is that this is unlikely to happen and adding charges even backdating is more likely)
  • When it comes to consent to let from New Street Mortgages am I supposed to tell them each time we get a new tenant and forward them a duplicate of the lease document?
  • I’ve already let but only just realised New Street Mortgages should've been told and consent to let applied for - what's the best course of action now?
  • My New Street Mortgages mortgage is coming up for renewal. We would like to apply for a new fixed rate mortgage and then apply for a consent-to-let. Is this possible? We don't use the house much now that our kids have grown up, and would be better used as a rental.
  • My wife and I may want to lease our home temporarily due to a new job. This will be for a limited period but no more than threeyears. Should I tell New Street Mortgages or am I best advised to keep schtum?