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Need professional advice for your consent to let with Sainsburys Bank? 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: Sainsburys Bank consent to let

  • A year ago my lender (not Sainsburys Bank) issued me with consent to let. This was subject to a provision that every 6 months they would add a fee of half a percent of the outstanding mortgage amount. Having the first few payments they have omitted to make the charge in recent months. This may be no more than a simple error but I am nervous that it would also mean I no longer have Consent to Let.
  • Is it possible to convert a standard mortgage with Sainsburys Bank to a consent to let. It will be less than 70% loan to value and it would alter from capital and interest repayment to interest only?
  • I rented my house out for three years between 2009-2012 while living in New York. I have a letter dated March 2010 from my lender granting consent to let. In the letter it explicitly stipulates that the consent to let is valid for "the remaining term of the mortgage". I have not refinanced since the letter was sent. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be acceptable to the new lender Sainsburys Bank for the property I intend to purchase.Your view would be appreciated
  • My partner and I took a mortgage out on a one bedroom apartment last July however I will be working outside of commuting distance of Islington for the foreseeable future but hope to find work closer in the long term. Given that I recently acquired the property I will lose money if I sell and do intend to return to Islington so would like to keep it. How likely are Sainsburys Bank to allow a consent to let and how do I go about it ?
  • Me and my husband are considering applying to Sainsburys Bank to obtain consent to let our home, how long does it take between submitting the application to us finding a letting agent and listing our house for rent? and are there any further steps in the process?
  • I would like to let my property for two years at most. How do I go about getting consent to let from Sainsburys Bank who I have a mortgage with?
  • I need to lease out my house to be nearer to my daughter's uni and take care of my father. What do I need for the application of consent to let from Sainsburys Bank?
  • Do you know whether there a time limit on a consent to let from Sainsburys Bank? and do you need to get a new mortgage first or a general residential mortgage can just be changed to a consent to let after application?