Consent-to-let Help for Furness Building Society

Common questions relating to Furness Building Society consent to lease

• I wish to rent out my current property as I wish to purchase a larger house for the family. I have a fixed rate mortgage with Furness Building Society. On the basis I get the consent to let as I understand lenders are more than likely to push me towards getting BTL mortgage when the fixed term is finished. Could I refinance after a couple of years with an alternative lender? What implications does that have apart from the higher rates - will I need a higher equity portion in the property too ie lower ltv?
• I applied for consent but was turned down as I did a remortgage in September but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. As a backup plan I can remortgage with Furness Building Society but will they give me consent straight away?
• I understand that this is a breach of Furness Building Society mortgage policy if I rent out my flat having indicated that I intend to reside there. The hope is to repay the mortgage after four years, by which time the property will be unencumbered, meaning I no longer require any consent to let. Furness Building Society advised me I can overpay as little as I like during the lifetime of the mortgage. I know someone who is interested in renting the property. What checks do Furness Building Society do and what are the chances that they are likely to do this? Can you set out implications of not seeking consent to let? From what I have read there is a possibility of Furness Building Society levying a penalty
• Resulting from a change in personal circumstances my husband and I are moving to my mum and dad’s house while they are away and letting our home out. We are going to need for consent to let from Furness Building Society. Will this be forthcoming? We will need to remortgage in the next year will we then transfer to a BTL product. We will 100% return to our flat at within the next twelve months?
• Just wondering if I would be able to get consent to let from Furness Building Society in order to move back in with my parents for a year or two and conserve some cash to extend the lease on my flat?
• I currently have a mortgage with Furness Building Society that I would like to transfer to a consent to let as we have identified another property we are looking to purchase. What is the procedure for consent to let?
• I am considering moving in with my boyfriend but prefer not to sell my flat. What is the process for seeking consent to let from Furness Building Society, and how likely is it that this will be obtained?
• Am I required to get consent to let if I let to a family member (in my situation my mother now lives there and contributes towards the Furness Building Society mortgage)?