Need Help?

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.

Examples of recent questions relating to Nottingham Building Society consent to let

  • I am a FTB interested in a 2 bedroom house in Nottingham Building Society. I have a good size deposit will be getting a mortgage from Nottingham Building Society. My predicament is that my partner has a apartment in London and I hope to be moving in next year, when I would have to let out my house. I understand that consent to let is required but it does not sound like a positive outcome is assured. Can you offer any advice?

  • My fixed rate runs out May 2017 and I wish to fix for another 4 years with Nottingham Building Society, with any luck rates will still be low. In in next couple of years I might wish to move temporarily to a different city. How difficult is it to get consent to let from Nottingham Building Society under this situation? I would be coming back at the end of the two years to reside in my property.
  • I have a current mortgage contract with Nottingham Building Society and need clarify if it would be possible to receive consent to let out our one bedroom apartment in Harrow.

    The rationale for wanting to rent out the property are as follows: -

    • My family and I will be migrating to India next spring.
    • In letting out the property this will facilitate savings to assist with the migration process.
    • It would be pointless from a financial point of view to redeem the mortgage for a property which we are not residing in and by renting out the home this would be considered as continuing investment.

    If Nottingham Building Society agreed that we are able to proceed with renting we would propose some financial assurances to include: -

    • Continue to pay the monthly mortgage payment by standing order.
    • Instruct an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Supply our forwarding details for when we move.
  • Me and my wife have a flat in Hillingdon which we purchased off-plan just over seven years ago. As we've now got a young son we are looking for a bigger home. We've identified a property in Harrow that we're going to buy and want to keep the flat as an investment to rent out. The mortgage is with Nottingham Building Society and we've found a tenant who will pay rent in excess of the monthly mortgage amount. The question is, can we keep the repayment mortgage with Nottingham Building Society so we effectively paying off our loan on the property or do we have to move it to a buy-to-let product?
  • We are interested in understanding the Nottingham Building Society consent to let procedure and conditions for granting.
  • Are you aware of any flexibility in the accepted equity ration before switching from a current Nottingham Building Society mortgage to a consent to let?
  • 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 twoyears. Should I tell Nottingham Building Society or am I best advised to keep schtum?
  • Do you know if there is usually a maximum LTV before Nottingham Building Society will consider consent to let?