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?

 

Mikkel

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.

Peter


Categories: Buy-to-let


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Your initial mortgage consultation is obligation free. There will be a minimum fee for our mortgage service of £450, of which £150 is payable when you apply, and we will retain the commission from the mortgage lender. Alternatively, you can choose the fee only option which is typically 0.65% of the amount borrowed. The precise amount will depend on your circumstances and mortgage loan amount, and will be discussed and agreed before you make a mortgage application.

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