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Need professional advice for your consent to let with Hodge Equity Release? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Hodge Equity Release consent to let: Q and A’s

  • Is consent to lease required from Hodge Equity Release or can I let my basement flat without telling Hodge Equity Release and having to convert to a B2L mortgage?

  • My husband and I have a residential mortgage with Hodge Equity Release. This has been in place since 2009. We are deliberating renting out our property and renting in an area close to our kid’s school until a suitable house becomes available to purchase. Do Hodge Equity Release ordinarily grant consent to let and do they apply an increase to the mortgage rate?
  • I am a couple of years up in a 5 years fixed term mortgage and have accepted a job abroad so wish to rent out my flat for 2 years. My LV is about 60%. Are you able to clarify whether Hodge Equity Release will load the interest rate for consent to let for a couple of years?
  • I want a bit of initial feedback as to whether consent to let is a sensible option. I completed the purchase of my apartment 7 months ago by transferring an existing Hodge Equity Release mortgage product. My fixed rate ended 4 months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with Hodge Equity Release, 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 move to a buy to let mortgage yet for 2 reasons: 1) I need to find out whether letting my property is a feasible option for myself and 2) I need to come up with additional capital to satisfy the 65% LTV ratio required for a BTL mortgage. It would be preferable to obtain consent to let from Hodge Equity Release for 1-2 years in order to be more secure in becoming a possible landlord and to raise 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, resume living there.
  • I am looking for information on what are acceptable reasons for leasing a property when it comes to seeking consent to let from Hodge Equity Release? Can you assist?
  • Hello, what documents or paperwork would Hodge Equity Release require for a consent to let letter?
  • I would like to be informed of the criteria and procedures in place to change my Hodge Equity Release mortgage to a consent to let?
  • I am currently in the process of applying for a mortgage through Hodge Equity Release - I foresee that in the coming months I may decide to let out the property - how would I switch the normal mortgage to a BTL mortgage?