Consent-to-let Help for Tandem Bank

Tandem Bank consent to let: Q and A’s

• Do I need consent to let from Tandem Bank or can I rent out my basement flat without telling Tandem Bank and having to convert to a B2L mortgage?

• I have a current mortgage contract with Tandem Bank and wish to clarify if it would be possible to obtain consent to let out our maisonette in Haringey.

  The reasons(s) for needing to find tenants for the property are are due to: -

  • My wife and I will be migrating to India early next year.
  • By letting out the house this will facilitate savings to assist with the migration process.
  • There is little merit from a monetary point of view to pay outright for a property which we are no longer living and by letting out the property this would be viewed as continuing investment.

  If Tandem Bank agreed that we are able to proceed with renting we would suggest some financial assurances to include: -

  • Maintain paying the monthly mortgage payment by direct debit.
  • Use an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Provide our forwarding address for when we relocate.
• I'm planning to remortgage my two bedroom first floor purpose built maisonette, currently occupied with tenants with consent to let from Tandem Bank, onto a BTL rate as we will not be moving back into it now since we have our family home. So, I'm assuming I need a specialist broker for this and I am not really conversant with what my options are. Are you able to recommend a good broker service specialising in BTL?
• My gf and I might have to let out her apartment, and I have a question regarding getting consent to do so. I know I need to inform Tandem Bank and get a consent to let or move to a buy to let mortgage. Given that the property is leasehold do we have to get consent to let from the freehold company?
• Wewant to let the family home and purchase another. What do I need to show Tandem Bank to obtain consent to let?
• Me and my husband have had my mortgage with Tandem Bank for nine years and always made payments If I sought consent to let would it be granted?
• I am after more information in relation to consent to let mortgages, potentially transferring our current mortgage with Tandem Bank over to a consent to let one.
• I am currently in the process of getting a mortgage through Tandem Bank - There is a chance that in the coming months I may decide to let out the property - how would I swap the 1st time buyer mortgage to a BTL mortgage?