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Need professional advice for your consent to let with Better HomeOwnership (Mortgages)? 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: Better HomeOwnership consent to let

  • Under what circumstances will consent to let for a property be granted via Better HomeOwnership? For what period of time do you have to have had owned the property before consent to let can be obtained from Better HomeOwnership? By way of background we are going abroad for a year and a half with my wife’s business and will need to rent our house. I would be looking at procuring consent to let initially in order to renting the property out to offset the costs of the Better HomeOwnership mortgage.
  • I obtained consent to let from Better HomeOwnership in 2012 but never used it and subsequently refinanced with a new mortgage provider. I recently asked for consent to let. I was informed that it would be given since I met the criteria. I have now got a communication advising me that I need to provide a letter from the DWP evidencing that that are aware of my current situation before they can provide consent. 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 £40 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
  • A friend of mine recently asked for CTL from the Woolwich which they refused citing that the mortgage had not been in place for six months. I am about to ask for consent to let from Better HomeOwnership. Do they take the same approach?
  • My partner phoned Better HomeOwnership on Tuesday regarding consent to let. We are awaiting a call back. We have put an offer in on a property that has been provisionally accepted so we need to know how likely it is that we will get consent to let by Better HomeOwnership?
  • How much of my mortgage allowance will be made available to borrow if I convert my mortgage to a consent to let with Better HomeOwnership?
  • My husband and I are looking at new mortgages and also thinking of renting the property in the years to come - Is there a charge with Better HomeOwnership to obtain a consent to let and what are the criteria?
  • Do I need to wait for consent to let to be issued on my existing domestic mortgage with Better HomeOwnership before applying for a resi mortgage on a second property?
  • Is there a time limit on a consent to let from Better HomeOwnership? 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?