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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.

Questions and Answers: Magellan Homeloans consent to let

  • My granddaughter is going to work overseas for twelve months and wants to rent her property out. She has a Magellan Homeloans fixed rate mortgage on repayment and wants consent to let the property as well as transfer to interest only. What does she need to do?
  • I've owned a studio flat in Enfield for six months with a Magellan Homeloans mortgage and I'm wondering whether I would qualify for a consent to let.
  • I have a apartment in Hillingdon with a Magellan Homeloans mortgage but have not lived there for a while. My brother moved in but is there rent free. I currently live in rented accommodation and am keen to purchase a house. I have found a perfect property at reasonable price. I have sufficient for a deposit to use on the house I am interested in but would be hard pushed to pay enough off the old property to change it to a BTL loan at the same time. Can I switch the current Magellan Homeloans mortgage for my old property into a consent to let and use my savings to pay a larger deposit for the residential mortgage on the property that I want to buy?
  • Approximately twelve months ago I vacated my house in a hurry and rented out the property. I know I needed consent to let by Magellan Homeloans but was uncertain as to what my plans were and just forgot about it. I find myself in circumstances where I want to sell that property and switch the Magellan Homeloans mortgage to a new house. I am struggling to find a way through without being at the behest of Magellan Homeloans for not seeking consent to let. When switching, at the time of selling, you must say you intend to "park the rate" and endure fresh set of affordability checks. Although I do not foresee difficulties with my financial standing, the credit check may indicate I no longer resident at the property.
  • We have a domestic mortgage with Magellan Homeloans and are considering obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Before we apply I would like to know the repercussions if any of making the change and any facts that we need to be aware of.
  • My mortgage is presently with Magellan Homeloans and am debating whether to sell or rent in the short term but don't have the equity for a buy to let mortgage at this stage. How feasible are consent to let options currently?
  • My husband and I am looking into the option of renting out my property with consent to let from Magellan Homeloans whist away travelling for six months
  • I'm looking in more information about consent to let from Magellan Homeloans. Would an acceptable reason be parking problems and the property is too big for me to run at this moment in time?