Need Help?

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

Frequently asked questions relating to Principality Building Society consent to lease

  • My partner and I may need to lease our Hounslow home for a while due to me taking a sabbatical. This will be temporary but possibly for as long as 2 years. Should I tell Principality Building Society or do I remain silent?

  • In what situations will consent to let for a property be issued by Principality Building Society? How long do you have to have had owned the property before consent to let can be negotiated with Principality Building Society? In order to give you some history I am a newly qualified lawyer in a home bought five months ago. My dream job opportunity requiring moving to a different city on a permanent basis has come up. I would be looking at applying for consent to let initially to be able to put a tenant in it to offset the expense of the Principality Building Society mortgage.
  • My mortgage is with Principality Building Society and wonder if I am duty bound to disclose if we no longer reside in my house. I believe that they could bump up the interest rate if we move and let it out but it's not very apparent what the change would be. Should I decide to let my property out and apply for consent to let in what way would the payments increase?
  • My partner have an offer accepted to purchase a house, we have a deposit of between 20-25% for a homeowner mortgage with Principality Building Society. The small problem is we are due to go overseas in three months for work. We are using a mortgage broker. She says if you tell this to the lender up front we will need to get a buy to let. Do go ahead with residential mortgage with Principality Building Society, shortly thereafter ask them if we can have consent to let? Otherwise, do we try and contact Principality Building Society now and disclose there is a chance we will move abroad in the future (I have not signed anything as yet to move abroad) and see if they confirm in advance that it should not be an issue
  • I have Principality Building Society mortgage and am considering leasing out the property. I understand I would need a consent to let to do this...is that correct ?
  • How do I go about gaining consent to let by Principality Building Society? Is there specific policies for instance you must live in the property for over 9 or 12 months before its granted?
  • If I have an existing normal mortgage with Principality Building Society and am planning to rent it out in the future will I be issued with consent to let? What is the process and what needs to be done next?
  • My wife and I may have to lease our home temporarily due to a new job. This will be for a limited period but perhaps for twoyears. Should I tell Principality Building Society or it is wise to keep quiet?