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

Principality Building Society consent to let: Q and A’s

  • Under what situations will consent to let for a property be granted by Principality Building Society? For what period of time do you have to have had the mortgage before consent to let can be obtained from Principality Building Society? In order to give you some perspective I am a newly qualified accountant in an apartment purchased a few months ago. The ideal job opportunity involving relocation to a different city on a permanent basis has arisen. I am interested in procuring consent to let in the first instance to be able to renting the property out to offset the costs of the Principality Building Society mortgage.
  • I have recently been offered a job 250 miles from home and considering whether it's worth leasing my property out. Will Principality Building Society allow me to switch mortgage or grant consent to let? If not I will have to think about whether I should accept the promotion. I have no objection to paying more as I intend to return and move into my home after 1 to 3 years. My agenda here is not to profit. Just really like my property and wish to return to it at some point in the future.
  • For two years now I have been with Principality Building Society and have just renewed a fixed rate. The loan to value is around 45%. A situation has arisen whereby we must move into my elderly mother-in-law's house to look after her, it would preferable to let our house out - do I need to seek consent to let from Principality Building Society and is it likely to cost much?
  • My mortgage with Principality Building Society has been in place for less than a year but I recently found out I will soon be made redundant. I would like tips on seeking consent to let by Principality Building Society
  • My family circumstances has changed, and I would like to let my place out - meaning consent to let- I have about £140K loan with Principality Building Society and currently 100k equity I need to avoid the redemption penalties.
  • I am already letting out my property but may have been found out. I have 5 months left on my fixed rate. Is it simple to get consent to let from Principality Building Society. Is it just a quick phone call, pay the charge and it's done there and then?
  • My partner and I took out a mortgage with Principality Building Society a few months ago and although it's still early days we may have to relocate around next September or October and would like to be able to let our flat out. Would this be possible with a residential mortgage?
  • Is consent to let a cost efficient way of renting out your property? Isn't this a loophole for some people to exploit?