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

Platform Home Loans consent to let: Q and A’s

  • We've been renting my wife's old house out with "consent to let" from Platform Home Loans on a standard mortgage for the last three years. Platform Home Loans have put forward an ultimatum revoking consent to let if we do not switch to one of their "buy to let" mortgages.

  • I work for a letting agency in loc and a potential tenant for the house has demanded sight of the ‘consent to let’ from the owners lender Platform Home Loans. Is this a new type standard inquiry?

  • I have a current mortgage contract with Platform Home Loans and wish to clarify if it would be possible to seek consent to let out our ground floor flat in Croydon.

    The purpose for needing to find tenants for the property are as follows: -

    • My family and I will be moving to Cape Town in 3 months.
    • In letting out the house this will facilitate savings to support the migration process.
    • It would be pointless from a fiscal perspective to pay off the mortgage for a property which we are not living and by renting out the property this would be viewed as continuing investment.

    If Platform Home Loans agreed that we are able to proceed with renting we would suggest some financial commitments to include: -

    • Continue to pay the monthly mortgage payment directly from my bank account.
    • Use an approved letting agent who will provide a rent guarantee scheme as a further financial safeguard.
    • Supply our forwarding address for when we emigrate.
  • I want a bit of preliminary advice to see consent to let is a viable proposition. I bought my apartment 7 months ago by transferring an existing Platform Home Loans mortgage product. My fixed rate ended three months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with Platform Home Loans, which I would not seek to be added to. I don't wish to sell my property yet because I'm unsure of whether the new move will work out. I don't want to change to a B2L mortgage yet for 2 reasons: 1) I need to find out whether letting my property is a viable option for myself and 2) I need to come up with extra capital to meet the 65% LTV ratio required for a BTL loan. Ideally I would like to get a consent to let from Platform Home Loans for a couple of years in order to be more secure in becoming a possible landlord and to generate 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 considering moving overseas for work and would like consent to let from Platform Home Loans whilst I am away. Is the way forward to complete the consent to let form and mail it to Platform Home Loans? The point of renting the property isn't to make money but to retain the house in case things don't work out
  • Would a prior extension to a mortgage term with Platform Home Loans be held against us once we applied to Platform Home Loans for consent to let.
  • I wish to apply for consent to let from my lender Platform Home Loans to rent out my house. . Can you tell me whether Platform Home Loans allow consent to let in this situation?
  • My OH and I have four months to remaining on a 2 year residential mortgage with Platform Home Loans but now rent the flat out. Can I assume they will simply charge a flat fee for consent to let?