Need Help?

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

Examples of recent questions relating to Magellan Homeloans consent to let

  • Existing flat valued at £97,000. Magellan Homeloans mortgage owing £18k with half a dozen years left. Get consent to let via Magellan Homeloans for current property and utilise income to pay off the last few years of mortgage. Take out sixty per cent Magellan Homeloans mortgage on second house that I will consider to be my main address? Is this viable?
  • Twelve months ago my mortgage company (not Magellan Homeloans) gave me with consent to let. This was subject to a provision that every 6 months they would add a fee of 0.5% of the remaining mortgage amount. Having the first couple of payments they have omitted to make the charge in recent months. Should I be worried that this means that my consent to let has been canceled .
  • I have an existing Magellan Homeloans mortgage on a property from 2005. Since then I've married and moved into my husband’s home. At the moment the property is vacant and we either need to sell or let it out. Chances are that this will not be a short term proposition as the probability of moving back is low. What should I tell Magellan Homeloans in order to get consent to let?
  • My husband and I currently live in Melbourne and leasing out our apartment in Islington. This was unplanned but an opportunity arose and we took it. The rental income is not enough to cover the mortgage so we transfer money each month to cover the shortfall. Earlier today I got a letter in the post from our lender telling me that because the property is being let out and has been for almost two years we will have to pay 1.5% interest in addition to our current mortgage rate. One option is to sell up but this will be difficult as I am so far away. Would it be possible to remortgage with Magellan Homeloans and get consent to let?
  • My partner and I were curious as to whether it is possible if you own one property with consent to let from Magellan Homeloans, to purchase another with a domestic mortgage to live in. Then once the consent expires on the first property, to change to buy to let or sell it?
  • Is it possible to negotiate a consent to let from Magellan Homeloans if I have an existing mortgage which has been in place for eight years?
  • I would like some advice on how best to approach my mortgage company Magellan Homeloans regarding a 'Consent-to-Let' application. Is this a task you can offer guidance on ?
  • I recently purchased a house with 10% deposit for personal reasons. A mortgage was taken with Magellan Homeloans. But my circumstances have now changed. I am being transferred abroad. Am I able to get consent to let from Magellan Homeloans and put the house up to let?