Consent-to-let Help for Nottingham Building Society

Recently asked questions relating to Nottingham Building Society consent to lease

• I have a Nottingham Building Society mortgage and have been letting out my apartment without consent to let, which I am now led to believe means I am in contravention of my mortgage Ts and C’s. They may have suspicions that I am not living there. What negotiating options do I have if I fail to sell it in time before they are on notice that I am in contravention of my conditions?
• I have just been presented with a once in a lifetime career opportunity for 6 months in Denmark. I have enough money to meet the monthly Nottingham Building Society mortgage yet the buildings insurance requires that the property must be occupied in order not to be invalidated. Last winter the roof was damaged but repaired. If there happened to be any problems in the winter months I would find it hard to cover the repair costs. Will I qualify for consent to let from Nottingham Building Society for the time I am abroad?
• I have a current mortgage contract with Nottingham Building Society and need clarify if it would be possible to seek consent to let out our two bedroom first floor purpose built flat in Redbridge.

  The rationale for needing to find tenants for the property are as follows: -

  • My wife and I will be migrating to Cape Town early next year.
  • By renting out the property this will facilitate savings to assist with the migration process.
  • It would be pointless from a monetary perspective to discharge the mortgage for a property which we are no longer residing in and by leasing out the home this would be viewed as an ongoing investment.

  If Nottingham Building Society agreed that we are able to proceed with renting we would suggest some financial assurances which are as follows: -

  • Continue to pay the monthly mortgage payment directly from my bank account.
  • Instruct an approved letting agent who will provide a rent guarantee scheme as a further financial safeguard.
  • Supply our forwarding address for when we relocate.
• My gf and I might have to rent out her flat, and I have a question concerning obtaining authority to do so. I know I need to inform Nottingham Building Society and get a consent to let or move across to a buy to let product. Given that the property is leasehold do we need consent to let from the residents association?
• Do you specifically deal with enquiries regarding Nottingham Building Society or all of them?
• I plan to purchase a new home but can't afford to sell my current property with a Nottingham Building Society mortgage. Do you know acceptable terms for Nottingham Building Society to grant consent to let? Is getting married and having kids a good enough reason to make the request?
• I am fixing my residential mortgage with Nottingham Building Society but as a result of my job I may have to live abroad for few years. Will Nottingham Building Society allow and give consent to let and there be any penalty
• Will I need consent to let from Nottingham Building Society if I am intending to occupy the flat myself for half of the year? Also if I gain consent to let for a limited time, say up to two years, what happens after that.