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Need professional advice for your consent to let with West Bromwich Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

West Bromwich Building Society consent to let: Q and A’s

  • I have my garden flat in Harrow on the market but despite a couple of viewings there is a lack of interest so far. As a backup option I am considering letting out the property if cant find a buyer. I dont foresee a problem getting consent to let from the freeholder. My mortgage adviser says that in such a situation I may have to switch to a B2L product yet the chances are that I don't have enough equity needed. What's the worst that could happen if I if hypothetically I was to just keep the existing West Bromwich Building Society home loan and let the property out on the QT As long as the mortgage is being paid in full and on time, why would they care or check?
  • My understanding is that this is a contravention of West Bromwich Building Society mortgage policy if I lease out my flat having indicated that I intend to reside there. The intention is to redeem the mortgage after four years, by which time I will become the outright owner, meaning I no longer require any consent to let. West Bromwich Building Society advised me I can overpay as little as I like during the lifetime of the mortgage. I have someone who wants to rent the property. What checks do West Bromwich Building Society do and what are the chances that they are likely to do this? Can you set out consequences of not getting consent to let? From what I have read there is a possibility of West Bromwich Building Society bumping up the interest rate
  • We are currently in Hong Kong and letting out our property in Sutton. This was unplanned but an opportunity arose and we took it. The rent we make on the flat is not enough to cover the mortgage so we send back money each month to make up the difference. Earlier today our lender got in touch informing me that because the property is being let out and has been for nearly four years we will have to pay 1.5% interest in addition to our current mortgage rate. One option would be to sell the apartment but this will be far from easy as I am on the other side of the world. Could we remortgage with West Bromwich Building Society and get consent to let?
  • I have been leasing my flat to a tenant for a few years but not on a buy to let mortgage as I thought that you only required a buy to let if you had more than one mortgage. In trying to purchase a second property, I discovered that I should have obtained consent to let all along from my lender West Bromwich Building Society. I'm curious as to whether I can now seek consent to let from West Bromwich Building Society?
  • I have a West Bromwich Building Society mortgage currently and may wish to let it out temporarily with consent from West Bromwich Building Society for (1 year). How easy is it to obtain consent to let?
  • Were we to ask for a consent to let letter by West Bromwich Building Society will we be made to convert to buy to let mortgage? We are with West Bromwich Building Society and as properties are not selling at the mo but we have seen one we like we were considering letting our home out in order to acquire the new and dispose of this one if the value improves.
  • Afternoon? I am just wondering whether West Bromwich Building Society offer consent to let as an option if I decided to rent out my home under a domestic mortgage. Is there a specific rule for right to buy property and consent to let?
  • I am interested in consent to let for my property mortgaged with West Bromwich Building Society. How do I proceed? Do I have to contact West Bromwich Building Society and get them to agree?