Consent-to-let Help for Monmouthshire Building Society

Monmouthshire Building Society consent to let: Q and A’s

• I am thinking of applying for consent to let from Monmouthshire Building Society as my personal situation has changed. My stepdaughter was starting university and I concluded that we would move to the area and opted to buy a property rather than spend the money on renting. Since purchasing the house there has been breakdown in my relationship with my my step daughter and she refuses to move in. Given that the whole idea was for her and the house location is not particularly convenient for my work I would like to move out and rent out the house
• Your view would be appreciated as to whether consent to let from Monmouthshire Building Society is the best option. I purchased my property seven months ago by porting an existing Monmouthshire Building Society mortgage product. My fixed term finished two months ago I'm weighing up moving in with a new partner. I would prefer not to sell my house yet because I'm unsure of whether the new move will prove successful. I just wanted an idea of whether a consent to let from Monmouthshire Building Society would be possible?
• If a property owner chooses to rent out their property without consent to let by Monmouthshire Building Society - what, if any implication could there be for an agent acting for the landlord?
• My understanding is that this is a breach of Monmouthshire Building Society mortgage policy if I let out my property having informed that I intend to reside there. The plan is to have the mortgage fully paid off after five years, by which time the property will be unencumbered, meaning I no longer require any consent to let. Monmouthshire Building Society advised me I can overpay as much as I like during the lifetime of the mortgage. I know someone who is interested in renting the property. What checks do Monmouthshire Building Society do and what are the chances that they are likely to do this? What are the ramifications of not obtaining consent to let? From what I have read there is a possibility of Monmouthshire Building Society bumping up the interest rate
• Were we to ask for a consent to let letter from Monmouthshire Building Society will we be required to change to buy to let mortgage? Our mortgage is with Monmouthshire Building Society and as properties are not selling at the mo but we have seen one we like we were going to rent our home out in order to buy the new and sell this one if the market improves.
• My lender refuse to grant consent to let without a move in date confirmed with a tenant. How can I confirm this in the absence of consent to let? I am not sure but I vaguely recall my friend had a similar issue with Monmouthshire Building Society.
• I am currently in the process of applying for a mortgage through Monmouthshire Building Society - It is possible that in the coming months I may decide to rent the property out - how would I change the normal mortgage to a BTL mortgage?
• My wife and I have an annexe in our garden. Do we need consent to let this from Monmouthshire Building Society? If so, what is the process if I need to transfer my mortgage to consent to let?