Consent-to-let Help for Teachers Building Society

Recently asked questions relating to Teachers Building Society consent to lease

• I have a shared ownership property in Greenwich and will be looking to buy out the rest of the property. However, in the future I may be working overseas for a short period of time so would like to know what approach Teachers Building Society take to consent to let as I am considering a remortgage with them. I am not sure if they will lend on my property but as an aside can you provide further advice on their consent to let policy?
• We have an existing mortgage with Teachers Building Society and need clarify if it would be possible to receive consent to let out our garden flat in Redbridge.

  The rationale for wanting to find tenants for the property are are due to: -

  • My wife and I will be relocating to Hong Kong in January.
  • By renting out the property this will facilitate savings to support the migration process.
  • There is little merit from a monetary point of view to pay outright for a property which we are not residing in and by renting out the place this would be deemed as continuing investment.

  If Teachers Building Society agreed that we are able to proceed with renting we would propose some financial commitments to include: -

  • Maintain paying the monthly mortgage payment directly from my current account.
  • Use an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
  • Provide our forwarding address for when we emigrate.
• I have a property in Newham with a Teachers Building Society mortgage but have not lived there for a while. My sister moved in but pays no rent. At the moment I live in rented accommodation and am keen to purchase a house. I have come across an ideal property at reasonable price. I have enough of a deposit to put down on the house I am interested in but would find it difficult to pay enough off the old property to change it to a buy to let mortgage simultaneously. Can I change the current Teachers Building Society mortgage for my old flat into a consent to let and use my savings to pay a larger deposit for the residential mortgage on the property that I am looking to purchase?
• Given we are relocating and failing to sell our property, we are considering renting it out. Is it imperative to advise Teachers Building Society? If we do, I think they will want to change our mortgage to buy to let and increase rate which we can't afford. I was hoping that if I continued making my monthly payments it shouldn't be a problem, but am now concerned about insurance ramifications if we haven't come clean. Any advice?
• I am looking to Teachers Building Society to grant consent to let out my studio flat in Greenwich. I am moving to care for my mother who has severe complex heart failure
• Can I remortgage to Teachers Building Society from my existing provider, with a consent to let or do I need a let to buy homeloan, and if so what are the LTV's?
• I am currently refinancing and exploring the flexibility of certain mortgage providers when it comes to consent to let. Teachers Building Society is one of the lenders I am thinking of going with. How accommodating are they are far as consent to let is concerned?
• About to remortgage my house but I will potentially moving out in the near future and would be looking to rent it out. What would I need to do to get consent to let from Teachers Building Society?