Consent-to-let Help for Yorkshire Bank Home Loans

Frequently asked questions relating to Yorkshire Bank consent to lease

• I work for a letting agency in loc and a potential tenant for the house has demanded evidence of the ‘consent to let’ from the owners lender Yorkshire Bank. Why would they ask for this

• Yorkshire Bank have just granted me consent to let. After some effort, Yorkshire Bank have issued me with ‘consent to let’ confirmation . Mention is made of an assured shorthold tenancy. What is that?

• I have found myself in the accidental landlord situation and didnt inform Yorkshire Bank. I had to vacate my home for family reasons, so now live in another part of the country. I originally tried to sell the flat, but prices were deflated, resulting in negative equity. This was three years ago in 2011, the value has increased and has given me time to accumulate savings. I am in now in a position where I can now switch to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Yorkshire Bank that I have been letting without consent to let? I appreciate that I shouldn’t have done what I did, but circumstances wouldn’t allow me to do anything else. Can I change to a BTL without Yorkshire Bank knowing what I’ve done?
• Is it possible that mortgage providers (I have a mortgage with Yorkshire Bank) may start taking a more lenient approach towards consent to let? A broker recently told me that BTL mortgages are not regulated by the FCA whereas residential mortgages are. Therefore if I switch from a homeowner to a BTL I am moving to a regulated product. He said that under the current regulation lenders are reluctant to allow borrowers do this, which may explain why some banks will permit borrowers apply for consent to let but not switch to a Buy to let product. Is he right?
• Can I remortgage with Yorkshire Bank with consent to let if my fixed rate is coming to an end. Circumstances would not have changed.
• I wish to apply for consent to let from my mortgage provider Yorkshire Bank to rent out my property. This is due to me relocating. Do Yorkshire Bank allow consent to let in these circumstances?
• Do I require consent to let if I let to a family member (in my case my father now lives there and contributes towards the Yorkshire Bank mortgage)?
• I am after further information in relation to consent to let mortgages, potentially moving our existing mortgage with Yorkshire Bank over to a consent to let one.