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  • FIRST POST
    • rammster
    • By rammster 12th Dec 08, 3:16 PM
    • 287Posts
    • 73Thanks
    rammster
    Consent to let query HSBC?
    • #1
    • 12th Dec 08, 3:16 PM
    Consent to let query HSBC? 12th Dec 08 at 3:16 PM
    I asked HSBC what would happen if I let my property out as I might end up doing locums anywhere in UK come next year as I am the end of my training post in hospital + would probably like to buy a smaller house wherever I move, they said they will forward my query to tenancy team and come back to me. They will give consent to let on an annual basis, but the guy didn't sound too sure. Anybody been on the same boat before or had any experience with consent to let
    Inside I am THINKING.
Page 1
  • _Andy_
    • #2
    • 12th Dec 08, 3:24 PM
    • #2
    • 12th Dec 08, 3:24 PM
    It depends mainly on the LTV amongst other things.
    See what they say.
    • rammster
    • By rammster 12th Dec 08, 3:32 PM
    • 287 Posts
    • 73 Thanks
    rammster
    • #3
    • 12th Dec 08, 3:32 PM
    • #3
    • 12th Dec 08, 3:32 PM
    I have 95% LTV interest only fixed deal at 6.09% but my credit history is strong and income to house ratio of 3.2
    Inside I am THINKING.
  • _Andy_
    • #4
    • 12th Dec 08, 4:33 PM
    • #4
    • 12th Dec 08, 4:33 PM
    At 95% you may struggle (especially as it's interest only). Just have to wait for their response though.
    • rammster
    • By rammster 13th Dec 08, 9:56 AM
    • 287 Posts
    • 73 Thanks
    rammster
    • #5
    • 13th Dec 08, 9:56 AM
    • #5
    • 13th Dec 08, 9:56 AM
    spoke to HSBC they are going to be talking to their tennancy dept. for a consent to let will keep you guys in picture about developments.
    Inside I am THINKING.
    • rammster
    • By rammster 15th Dec 08, 11:05 PM
    • 287 Posts
    • 73 Thanks
    rammster
    • #6
    • 15th Dec 08, 11:05 PM
    • #6
    • 15th Dec 08, 11:05 PM
    had my consent to let come through today. Its been approved. maybe its due to my main banking and savings are with hsbc
    Inside I am THINKING.
  • medic1978
    • #7
    • 15th Dec 08, 11:09 PM
    • #7
    • 15th Dec 08, 11:09 PM
    Was the process difficult? Any conditions? How long did they approve the letting for?

    (may be in a similar position to you soon)
  • polo2000w
    • #8
    • 16th Dec 08, 10:26 AM
    • #8
    • 16th Dec 08, 10:26 AM
    I'm in the same position at the moment with First Direct. I haven't formally asked them for consent to let yet as I do not expect to rent my flat for another 6 months or so at least. Am worried though that they won't go for it. My LTV at the moment is about 85% (though I could reduce it if necessary) - I'm on a lifetime tracker (base +0.34%) which I would be a fool to redeem with the current market!
    • funandfrugal
    • By funandfrugal 16th Dec 08, 11:11 AM
    • 44 Posts
    • 32 Thanks
    funandfrugal
    • #9
    • 16th Dec 08, 11:11 AM
    • #9
    • 16th Dec 08, 11:11 AM
    I have a mortgage with Bank of Scotland and asked for consent to let 18 months ago - I had to fill out a form detailing why and give them details of my expected rental income. As I was letting through the council on a guarenteed rent scheme, they charged me £75 and gave me consent for a maximum of 3 years. They did not ask for proof of letting or the council scheme. My LTV was 80%. (alot less now lol!) Good luck
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