Consent-to-let Help for Darlington Building Society

Darlington Building Society consent to let: Q and A’s

• I have my ground floor flat in Newham on the market but notwithstanding a few viewers there is a lack of interest so far. As a fall back position I am considering letting out the property if cant find a buyer. I dont foresee a problem getting consent to let from the freeholder. My IFA says that in such a scenario I may be obliged to switch to a buy to let mortgage yet the chances are that I don't have enough equity needed. What's my exposure if I were to just keep the existing Darlington Building Society home loan and let the property out without telling them I was told that they can put a marker on you for mortgage fraud if they find out. Is that right?
• Please explain "consent to let" to me? I live in a 1 bed apartment and its in good condition. It is on the market and I can't find a buyer. This is because my neighbour is a drunk and assaulted me last year. I was obliged to put it on the disclosure form. Mortgage is with Darlington Building Society on a fixed rate. Someone mentioned I should obtain consent to let from Darlington Building Society and let the flat for a year or two.
• I want a bit of preliminary guidance to consider if consent to let is a feasible proposition. I bought my apartment 8 months ago by porting an existing Darlington Building Society mortgage product. My fixed rate came to an end three months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with Darlington Building Society, which I would not seek to be added to. I don't want to sell my property yet because I'm unsure of whether the new move will work out. I don't want to switch to a B2L mortgage yet for 2 reasons: 1) I need to discover if it is a marketable property with rents higher than my mortgage payments and 2) I need to find additional capital to satisfy the 65% LTV ratio required for a BTL loan. Ideally I would like to get a consent to let from Darlington Building Society for 1-2 years in order to be more secure in becoming a possible landlord and to generate the capital. If at the end of the consent to let period I was unsure I would probably either sell my property or, depending on the new relationship working out, reoccupy it.
• The likelihood is that I will have the opportunity to work overseas in a couple of years. I am therefore potentially downsizing to a newer apartment in Haringey which I could rent out more easily as and when required. The intention is to retain 50% equity in the new flat which would be my home for a while. My existing lender limits consent to let for 12 months. I suspect renting it out longer term and not informing them could land me in a whole host of legal issues. Buy-to-let seems inappropriate given that I will be living there, perhaps for 2-3 years initially. What product do I ask for, and from whom? Do lenders such as Darlington Building Society grant consent to let for a longer period?
• I was just looking into consent to let as it's something potentially I would need from Darlington Building Society within the next year. Our family circumstances has changed, and I wish to lease my property out
• Do you know whether Darlington Building Society will accept rental income on consent to let for affordability purposes or does it need to be on a buy to let ? Would Darlington Building Society let me raise capital based on the rental income ?
• Me and my sister and I have a mortgage with Darlington Building Society on our garden flat in Croydon. We are hoping to buy a new house to move into. How do I move our current mortgage on to consent to let?
• In the event that I was successful in obtaining consent to let from Darlington Building Society, can I sell during the consent period? Is it possible that I would incur any charges?