In this circumstance I would suggest that in the first instance you approach your current mortgage provider to discuss a possible consent to let arrangement.
‘Consent to let’ means you get permission from your current residential mortgage provider to let your home to paying tenants. This differs from having a buy-to-let mortgage, for which the intention to lease the property is made clear at the time of the application.
Most lenders will consider this and should allow you to let the property for up to 12 months. You may find that your lender will charge an admin fee for the facility and may revise the rate of interest you are charged. Your lender will need to be satisfied that your intention to let your property has come about through a genuine change in circumstances. Lenders might not allow you to convert if it appears that your intention was to let your property, and that you applied for a residential mortgage to secure a better mortgage deal.
