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NRAM Consent to Let

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Posted on 17 June 2011

I need to move abroad for a couple of years to take up a job offer. Unfortunately the housing market isn't too good at the moment so renting out my flat looks like a better idea. I do not have enough equity in the property for a buy to let so was considering consent to let. My 2 year deal with Northern Rock Asset Management (NRAM) has long expired and I am now just on a variable rate. I pay a monthly mortgage of £628 and have a rental valuation of £850. Will I have any chance of approval?



NRAM will consider applications from it's existing borrowers to let their property on an individual basis.  For this reason it is not possible for me to say whether or not your application will be successful.

You need to call 0845 609 9610 and ask for a Consent to Let application pack.  Once this is completed and returned they will let you know within 5 working days if you have been successful or not.  Their current fees are £100 for an annual consent and £250 for a long term letting.  Lines are open 8.30am to 5.00pm weekdays and 9.00am to 12.00 noon Saturdays.


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Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

Terms & conditions

Our charges are based on two considerations: the loan amount and the complexity of your individual circumstances. We will provide you with a free initial consultation and we will always explain exactly what you will be charged before you choose to  proceed with an application. As we offer a bespoke service our charges can vary. Our minimum fee is £495, (of which a non-refundable £150 is payable when you make a formal mortgage application). The average fee paid by our clients over the last year was 0.24% of their loan value. (For example, if your loan amount is £300,000 our average fee would be £720). If your circumstances are more complex we may charge a higher fee. Our maximum fee is 1.5% of the loan value. (For example, if your loan amount is £300,000, our maximum fee will be £4,500).

These fees apply to all regulated mortgages. Certain mortgages, primarily most buy to let and commercial mortgages, are not regulated. Fees for non-regulated mortgages can vary depending on your requirements and circumstances. Please contact us directly for more guidance.



John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU.

The FCA does not regulate some investment mortgage contracts.

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