Need Help?

Need professional advice for your consent to let with The Mortgage Business? 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 The Mortgage Business consent to lease

  • My fiance and I have a normal mortgage with The Mortgage Business. I have been offered a property as part of my job and wish to lease out my current home. The financial broker has informed me it is a formality. Can you give me some information please?
  • I have a studio flat in Bexley let out which has a seventy year lease. Mortgage broker said I should remortgage (currently with The Mortgage Business) as a buy to let instead of consent to let and release 45-55k which on top of a new mortgage based on my income would give me a budget of £210k. Not much about in Waltham Forest for me to buy my own property. A lease extension will be in region of 21k. Lease out with consent to let or sell the flat?
  • I have a flat in Bexley with a The Mortgage Business mortgage but have not lived there for a while. My dad moved in but pays no rent. At the moment I live in rented accommodation and am keen to buy a house. I have come across a great property at an attractive price. I have sufficient for a deposit to put down on the house I am interested in but would be a financial strain to pay enough off the old property to change it to a BTL loan at the same time. Can I change the current The Mortgage Business mortgage for my old apartment into a consent to let and use my reserves to pay a larger deposit for the domestic mortgage on the property that I want to buy?
  • I understand that this is a contravention of The Mortgage Business terms and conditions of mortgage if I lease out my flat having informed that I intend to reside there. The aim is to have the mortgage fully paid off after four years, by which time the property will be unencumbered, meaning I no longer require any consent to let. The Mortgage Business advised me I can overpay as much as I like during the lifetime of the mortgage. I have someone who is interested in renting the property. What are the chances of The Mortgage Business discovering that I am not residing at the address? What are the repercussions of not seeking consent to let? From what I have read there is a possibility of The Mortgage Business levying a penalty
  • I have just got married and I am in the process of buying out 100% of my co-ownership mortgage with my wife. As a result we have now been given a 90% loan to value on our house. We want to buy a larger place. Will it be possible to get a consent to let on my new mortgage with The Mortgage Business to allow us to get a mortgage also with The Mortgage Business for a new home?
  • Am I required to get consent to let if I rent to a family member (in my case my mum now lives there and contributes towards the The Mortgage Business mortgage)?
  • I was just wondering how to get consent to let from The Mortgage Business...do I call them or apply formally in writing to them?
  • Do you know if there is usually a maximum loan to value amount before The Mortgage Business will consider consent to let?