Need Help?

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

The Mortgage Lender consent to let: Q and A’s

  • We have a homeowner mortgage with The Mortgage Lender. This has been in place since 2006. We are intending on leasing out our house and renting in an area close to our children's school until we find the right home to buy. Do The Mortgage Lender ordinarily issue consent to let and if so, what are the financial implications?
  • I have a studio flat but I am never there, looking into the option of renting it out. My mortgage is with The Mortgage Lender, would I have to move onto a new mortgage product or do I apply for consent to let?
  • We have an existing mortgage with The Mortgage Lender and need clarify if it would be possible to seek consent to let out our one bed flat in Hillingdon.

    The rationale for wishing to rent out the property are as follows: -

    • Me and my wife will be relocating to Cape Town in January.
    • In letting out the property this will facilitate savings to help the migration process.
    • It would be pointless from a monetary perspective to redeem the mortgage for a property which we are no longer living and by leasing out the place this would be viewed as an ongoing investment.

    If The Mortgage Lender granted permission to us for renting we would suggest some financial assurances which are as follows: -

    • Maintain paying the monthly mortgage payment by direct debit.
    • Instruct an accredited letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Supply our forwarding details for when we relocate.
  • My fiance and I would like to know what the criteria is for The Mortgage Lender for consent to let. I have come across different suggestions in relation to charges and rates. I need to relocate for career reasons but I don't want to sell the house due to a depressed market.
  • How easy is it to get a consent to let from The Mortgage Lender and what does it cost? If I want to let out my property for two months how simple is it to chop and change between a owner occupier mortgage and consent to let?
  • Is there discretion in the accepted equity ration before transferring from an existing The Mortgage Lender mortgage to a consent to let?
  • My mortgage has been with The Mortgage Lender for seven years. I would like to apply for consent to let my property. I have been waiting for a response from The Mortgage Lender. Are you able to please check and help?
  • I am interested in consent to let for my house mortgaged with The Mortgage Lender. How do I proceed? Do I have to contact The Mortgage Lender and get them to agree?