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Need professional advice for your consent to let with Nottingham 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: Nottingham Building Society consent to let

  • I'm currently seeking a mortgage as first time buyer and considering Nottingham Building Society with my broker. Suppose I choose a 3 year fixed rate I live at the property and after one year, an opportunity comes up which involves a relocation requiring moving overseas. If Nottingham Building Society gives me consent to let,does the interest rate stay as it is or would it increase?
  • I have a Nottingham Building Society mortgage on an apartment I own, in Bromley. This year, due to a change in my circumstances I decided to rent out the flat, and rent an alternative property in a different area within same loc. The state of affairs that changed is that my partner moved in, and the flat is too small for us. I would rather not dispose of the flat because the current market value is significantly lower than the market value when I bought the property ten years ago. I contacted Nottingham Building Society for a consent to let which was refused because they felt that my intention was to invest in the flat. The whole process was very stressful and frustrating. The matter is urgentas there is a prospective tenant waiting for this consent to let and may pull out.Yours sincerely
  • At present I have a domestic mortgage with Nottingham Building Society. My company has offered me a home as part of my job and would like to let out my existing property. The mortgage advisor has informed me it is a formality. Are you able to provide me with some information please?
  • I have a current mortgage contract with Nottingham Building Society and need clarify if it would be possible to obtain consent to let out our one bedroom ground floor purpose built flat in Hillingdon.

    The purpose for wishing to rent out the property are as follows: -

    • My wife and I will be moving to Melbourne in January.
    • By renting out the property this will enable us to make some savings to assist with the migration process.
    • It would be pointless from a fiscal perspective to pay outright for a property which we are not residing in and by renting out the place this would be deemed as continuing investment.

    If Nottingham Building Society granted permission to us for renting we would suggest some financial assurances which are as follows: -

    • Maintain paying the monthly mortgage payment by direct debit.
    • Use an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Provide our forwarding address for when we move.
  • Were I to let my property with consent to let from Nottingham Building Society will will theybump up the interest rate? I am presently on a standard variable rate.
  • I am looking at new mortgages and also thinking of renting the property in the years to come - Is there a charge with Nottingham Building Society to receive consent to let and what are the requirements?
  • If I have an existing residential mortgage with Nottingham Building Society and am planning to rent it out in the future will I be granted consent to let? What is the procedure and cost involved?
  • I am potentially moving in with my fiance at his home and would like to rent out my property that I acquired last year, I'm just not sure of the process as my property is my first home. What hoops do I need to jump through to get consent to let from Nottingham Building Society If I obtain consent would my mortgage payments increase?