Consent-to-let Help for Hinckley and Rugby Building Society

Frequently asked questions relating to Hinckley and Rugby consent to lease

• Next month I will be emigrating to Hong Kong. As opposed to sell my house, I would like to let it out, just in case things don’t go as expected. My present mortgage is with Hinckley and Rugby. If I looked to refinance would a new provider view this as me attempting to dodge a Buy To Let mortgage, of which there is very restricted availability for 80% LTV, and therefore reject my request for Consent to Let?
• The hope is to move house. The query I have is whether consent to let will be granted on my property for me to then get a loan offer for the new house so I can effectively bid without being part of a chain and subsequently rent my house out when I move. Does Hinckley and Rugby issue consent to let for 6 months? Assuming the letting goes well is it possible for the consent to let period be prolonged further?
• I have a current mortgage contract with Hinckley and Rugby and need clarify if it would be possible to obtain consent to let out our maisonette in Hounslow.

  The rationale for wanting to lease out the property are as follows: -

  • My family and I will be moving to Hong Kong early next year.
  • By letting out the property this will enable us to make some savings to help the migration process.
  • It would be pointless from a financial perspective to discharge the mortgage for a property which we are no longer residing in and by letting out the place this would be deemed as continuing investment.

  If Hinckley and Rugby granted permission to us for renting we would suggest some financial assurances to include: -

  • Continue to pay the monthly mortgage payment by direct debit.
  • Use an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Supply our forwarding details for when we emigrate.
• I am may soon need to apply for consent to let from my current mortgage lender Hinckley and Rugby. A friend of mine said that she was granted ‘consent to let’ confirmation from a different lender where it stipulated that the tenancy granted must be in the form of an assured shorthold tenancy. Can you explain what this is?
• I am considering moving overseas for work and would like consent to let from Hinckley and Rugby whilst I am away. Is the way forward to prepare a letter requesting consent to let and mail it to Hinckley and Rugby? Letting the property isn't to make money but to retain the property in case things don't work out
• Will Hinckley and Rugby choose to operate a right to switch the rates on a homeowner mortgage where Consent to Let at any time, onto ‘rates equivalent to their BTL range'? Is it possible to refinance on a consent to let with Hinckley and Rugby?
• I am going away for work for as long as 12 months... I was wondering if I was able to obtain from Hinckley and Rugby consent to let the property out while overseas as I do not want to leave it unattended for that period
• I wish to get consent to let from Hinckley and Rugby for two years until I hope to move onto a B2L. Is this feasible