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Need professional advice for your consent to let with Tesco Bank (a trading name of Tesco Personal Finance plc)? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Tesco Bank consent to let: Q and A’s

  • I am currently in the process of emigrating to Beijing . As opposed to finding a buyer, I would prefer to rent my current property out, just in case things turn sour and I decide to come back within a couple of years. The current mortgage is with Tesco Bank. Would I be able to remortgage with another mortgage company on a much lower interest rate then apply for Consent to Let after the re mortgage has completed?
  • I am interested in understanding the conditions customers have to meet before consent to let from Tesco Bank is issued. Do you know if there are any restrictions on who can be granted consent?
  • Is it possible to switch a residential mortgage with Tesco Bank to a consent to let. It will be less than 70% loan to value and it would alter from repayment to interest only?
  • Am I obliged to inform Tesco Bank of my plan to take in a lodger. I have two spare rooms that could be used by lodgers and I was thinking that as the occupancy remains in keeping with that of the 'family' use of the property it might not require consent to let. Can you shed any light on this? I am taking separate advice on the insurance, legal and tax ramifications.
  • I am considering letting out my house via a consent to let from Tesco Bank, what charges can I expect to pay?
  • We are about to buy a property and plan to live in it once we have refurbished but we may need to let the property out but not sure what the criteria is for consent to let from Tesco Bank? We don't need a buy to let mortgage because we are not certain if we will need to let it out at all
  • Me and my wife have had my mortgage with Tesco Bank for eleven years and always made payments If I sought consent to let would I get a positive reply?
  • Does my loan to value need to be at a certain ratio to allow me to apply for a consent to let from my mortgage provider Tesco Bank. Does it make a difference that I only recently out the mortgage four months ago?