Consent-to-let Help for Principality Building Society

Recently asked questions relating to Principality Building Society consent to lease

• Doing everything by the book I’ve been leasing out my house with "consent to let" from Principality Building Society on a homeowner mortgage for the last 24 months. Principality Building Society have advised of their intention of revoking consent to let unless we swap to one of their "buy to let" mortgages.

• I am looking for some precautionary guidance to see consent to let is a sensible option. I bought my apartment nine months ago by porting an existing Principality Building Society mortgage product. My fixed rate finished four months ago. I'm currently considering moving in with a new partner who has his own property and mortgage also with Principality Building Society, which I would not seek to be added to. I don't want to sell my property yet because I'm unsure of whether the new move will work out. I don't want to switch to a buy to let mortgage yet for 2 reasons: 1) I need to discover if it is a marketable property with rents higher than my mortgage payments and 2) I need to come up with additional capital to meet the 65% LTV ratio required for a buy to let mortgage. Ideally I would like to receive consent to let from Principality Building Society for 1-2 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.
• How long does it take to receive consent to let via Principality Building Society and is there a minimum period of time I should have had the mortgage for?
• My husband and I might have to let his apartment out. I am aware that I need a consent to let from Principality Building Society. We plan to join a landlord association should we go ahead and let the flat, but do you have any thoughts on which is the best? We've seen the RLA and National Landlords Association.
• I want to take in lodgers for my maisonette in Bromley which I live in. My mortgage is with Principality Building Society. How do I go about getting a consent to let?
• If I have an existing standard 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 procedure and what needs to be done next?
• I am trying to find out if Principality Building Society will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
• I am enquiring as to whether there are any restrictions in getting consent to let on a freehold property when I have a mortgage with Principality Building Society