Consent to let

Posted on 9 February 2011 by dm


I'm looking to rent my flat out. I am currently on a 5 year fixed rate mortgage and am tied in until October 2012. The interest rate is 7.9% on my current mortgage. Do I have to change my mortgage to a buy-to-let and if so, what is the likelyhood of my mortgage company agreeing to this?

Donna,

This will normally depend on why you want to let your property. If you are moving area because of work then it is very possible that your Lender will grant you consent to let without insisting you change to a Buy to Let mortgage or charging you an additional interest rate.

You should contact your Lender to discuss your wishes and ask them how they would treat such a request and what fees they will charge.

Peter

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.

You are currently offline. Some pages or assets may fail to load.