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Consent to let query HSBC?
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# 1
rammster
Old 12-12-2008, 3:16 PM
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Default Consent to let query HSBC?

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
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# 2
_Andy_
Old 12-12-2008, 3:24 PM
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It depends mainly on the LTV amongst other things.
See what they say.
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# 3
rammster
Old 12-12-2008, 3:32 PM
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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
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# 4
_Andy_
Old 12-12-2008, 4:33 PM
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At 95% you may struggle (especially as it's interest only). Just have to wait for their response though.
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# 5
rammster
Old 13-12-2008, 9:56 AM
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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.
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# 6
rammster
Old 15-12-2008, 11:05 PM
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had my consent to let come through today. Its been approved. maybe its due to my main banking and savings are with hsbc
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# 7
medic1978
Old 15-12-2008, 11:09 PM
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Was the process difficult? Any conditions? How long did they approve the letting for?

(may be in a similar position to you soon)
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# 8
polo2000w
Old 16-12-2008, 10:26 AM
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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!
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# 9
funandfrugal
Old 16-12-2008, 11:11 AM
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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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