Consent-to-let Help for Whistletree (a trading name of TSB Bank plc)

Questions and Answers: Whistletree consent to let

• A friend of mine suggested that this summer I rent out my cottage and make money from it whilst on holiday. It will only likely be for a fortnight. Will consent to let be needed from Whistletree?

• Eighteen months ago we purchased our council flat, in Camden,recently valued at £220k. It's completely paid for from our own finances, mortgage fee. We are prohibited from selling (without repaying back a significant amount of the discount) before 5 years have gone by. Regardless, we would like to keep it as a investment property to lease out. We wish to release some equity via a Whistletree mortgage. If Whistletree refuse are there lenders that might be amenable and grant consent to let?
• I have a current mortgage contract with Whistletree and wish to clarify if it would be possible to obtain consent to let out our maisonette in Barnet.

  The purpose for needing to rent out the property are as follows: -

  • My family and I will be moving to Hong Kong in January.
  • By renting out the property this will facilitate savings to assist with the migration process.
  • There is little merit from a financial point of view to pay outright for a property which we are no longer living and by letting out the property this would be considered as an ongoing investment.

  If Whistletree agreed that we are able to proceed with renting we would propose some financial assurances to include: -

  • Maintain paying the monthly mortgage payment by standing order.
  • Use an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Supply our forwarding details for when we move.
• My house had been let to students for three years between 2009-2012 while employed abroad. I have a letter dated May 2010 from the mortgage company granting consent to let. In the letter it clearly states that the consent to let is valid for "the remaining term of the mortgage". I have not changed product 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 Whistletree for the property I intend to purchase.Your view would be appreciated
• I’m about to finish the fixed rate period of my 2 year fix with Whistletree and change on to the standard variable rate. I would like to know if consent to let by Whistletree is likely, if there are charges, and if there conditions?
• Do I need consent to let if I rent to a family member (in my situation my mother now lives there and contributes towards the Whistletree mortgage)?
• I am fixing my homeowner mortgage with Whistletree but as a result of my job I may have to live abroad for a couple of years. Will Whistletree allow and give consent to let and there be any penalty
• We are considering a remortgage offer with Whistletree and it's a strong possibility that I will need take advantage of any consent to let option if available at some point in the fixed period. Are there any fees I should consider?