Need Help?

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

Common questions relating to The Mortgage Works consent to lease

  • I am three years up in a five year fixed rate mortgage and planning to take a job abroad so would like to rent out my home for 2 years. My LTV is about sixty per cent. My query is whether The Mortgage Works will increase my interest for consent to let for the period that the property is tenanted?
  • Resulting from a redundancy my partner and I are looking to move away from Brent and our apartment, potentially to a job in Amsterdam but that means we will want to let the property but don't want the penalty fee of existing The Mortgage Works mortgage which will be high.Can The Mortgage Works refuse to grant us consent to let?
  • My mortgage is with The Mortgage Works and wonder if I am duty bound to disclose if we no longer live in the property. I believe that they may increase the interest rate if we move and find a tenant but it's not very obvious what the change would be. Should I decide to lease my property out and seek consent to let in what way would the payments go up?
  • We have a flat in Havering which we purchased off-plan just over seven years ago. As we've now got a young son we need more space. We've identified a property in Brent that we wish to buy and want to keep the flat as an investment to rent out. The mortgage is with The Mortgage Works and we've found a tenant who will pay rent in excess of the monthly mortgage amount. My query is, can we retain the repayment mortgage with The Mortgage Works so we effectively paying off our loan on the flat or do we have to swap to a buy-to-let product?
  • If we request a consent to let letter by The Mortgage Works will we be required to change to buy to let mortgage? We are with The Mortgage Works and as houses are not selling at the mo and we have seen one we like we were leasing our home out in order to acquire the new and sell this one if the local market improves.
  • My partner and I have a consent to let letter that I have obtained from my management company. I presume I need to attaching this with a letter to The Mortgage Works with a view to procuring consent to let from them. What address shall I post it to?
  • Do I need to wait for consent to let to be issued on my prevailing domestic mortgage with The Mortgage Works before applying for a resi mortgage on a second property?
  • I have a mortgage with The Mortgage Works and am debating whether to sell or rent in the short term but don't have the equity for a buy to let mortgage at this time. How feasible are consent to let options currently?