Consent-to-let Help for West Bromwich Building Society

Frequently asked questions relating to West Bromwich Building Society consent to lease

• Always on the look out for a money making scheme I am contemplating leasing out my cottage and make money from it whilst on vacation. I only plan to be away for a couple of weeks. Will consent to let be needed from West Bromwich Building Society?

• I need to see if I can get consent to let on my current property. I have a mortgage with West Bromwich Building Society but my situation has changed. I'm looking to move in with my partner and daughter who have a house and more room than my 1 bed apartment. I doubt I will qualify for a buy to let mortgage as I don't have the funds for a deposit nor do I earn in excess of £25000 a year.
• After having retired last month I acquired a “retirement home” for my wife and myself to move to. Our intention is to let our current property to our kids and I have therefore contacted West Bromwich Building Society for consent to let. What are the chances of this being issued?
• I want a bit of initial guidance as to whether consent to let is a feasible option. I bought my flat 6 months ago by transferring an existing West Bromwich Building Society mortgage product. My fixed rate came to an end three months ago. I'm currently deliberating moving in with a new partner who has his own property and mortgage also with West Bromwich Building Society, which I would not seek to be added to. I don't wish to sell my property yet because I'm unsure of whether the new move will work out. I don't want to switch to a buy to let mortgage yet for 2 reasons: 1) I need to discover if it is a marketable property with rents higher than my mortgage payments and 2) I need to raise additional capital to satisfy the 65% LTV ratio required for a BTL mortgage. It would be preferable to get a consent to let from West Bromwich Building Society for 1-2 years in order to be more secure in becoming a possible landlord and to generate the capital. If at the end of the consent to let period I was unsure I would probably either sell my property or, depending on the new relationship working out, reoccupy it.
• When it comes to consent to let from West Bromwich Building Society am I obliged to update them every time we get a new tenant and post them a duplicate of the lease document?
• My wife and I are planning to move to Kenya for eighteen months for my job but I don't want to change my mortgage to BTL as the intention is to reoccupy it when I return. Do you know if West Bromwich Building Society charges extra on the interest? Is there any work around?
• I would like to find out what information I should include in a letter asking for consent to let my property in Harrow? I would like to send a request to my lender West Bromwich Building Society.
• I am potentially moving in with my girlfriend but prefer not to sell my place. What is the process for getting consent to let from West Bromwich Building Society, and how likely is it that this will be granted?