Need Help?

Need professional advice for your consent to let with Tesco Bank (a trading name of Tesco Personal Finance plc)? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Top Five Questions relating to Tesco Bank consent to lease

  • I previously got consent to let from Tesco Bank in 2011 but never used it and subsequently refinanced with a new lender. I recently sought for consent to let. I was told it would be authorised since I met the criteria. However I received a communication advising me that I must supply evidence from the DWP evidencing that that are aware of my current situation before they can issue authorisation. They said this is policy but I have not been able to find these T&Cs on their site. I did complain about the inference that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £35 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to continue with them
  • I need to explore if I can receive consent to let on my existing flat. I have a mortgage with Tesco Bank but my circumstances have changed. I'm looking to move in with my partner and daughter who have a house and more room than my studio property. I am sure that I will not qualify for a buy to let loan as I don't have the funds for a deposit nor do I earn more than £25000 a year.
  • How long must one be the registered owner of a property before one is eligible for consent to let ,the lender is Tesco Bank? On the basis that it is issued, can it be cancelled at a later date?
  • My partner and I currently live in NYC and letting out our flat in the UK. This was unplanned but an opportunity came up and we took it. The rent achieved on the flat is insufficient to cover the mortgage so we send back money each month to make up the shortfall. Anyway this morning our lender got in touch informing me that because the property is being let out and has been for almost four years we will have to pay 1.5% interest in addition to our current mortgage rate. We could sell the property but this will be far from easy as I am on the other side of the world. Would it be possible to remortgage with Tesco Bank and get consent to let?
  • It would be helpful to know if on the balance of probabilities Tesco Bank will give consent to us letting out our flat in Wandsworth
  • I have a residential mortgage with Tesco Bank - about 28% equity. I am considering relocating for another job and was enquiring if Tesco Bank are flexible in changing the mortgage to allow for consent to let?
  • How do I go about getting a consent to let from Tesco Bank? Are there certain requirements for example you have to reside in the property for over 9 or 12 months before its issued?
  • I have a mortgage with Tesco Bank but am wanting to rent my house out and move in with my fiance and baby what would I have to do to obtain consent to let?