Moving abroad for work at same time as mortgage fixed rate ends...

s1mon_2

Hello all,

I've been offered the opportunity to work abroad for six months, but this is causing some mortgage problems. I've been researching other posts on consent to let, but haven't found any similar posts.

Briefly
1) I will be abroad for an initial six months, then probably return home, but my be offered an extension or permanent post abroad.
2) I want to rent my house for the six months so I don't have to pay the mortgage on an empty house. The company won't cover the mortgage while I'm away.
3) My current fixed rate ends at the start of the month when I would move abroad and my current providers SVR is high.
4) I want to keep the mortgage payments as low as possible, but don't mind SVR if its all that is available. SVR will give me the most flexibility I think? The rent may just cover the mortgage, but I don't mind covering any shortfall.
5) I doubt I will get a buy to let mortgage as the rent won't cover 125% of the mortgage payments.

So, is it possible to get a mortgage with consent to let for a short period at the start of the mortgage, that isn't buy to let? If anyone knows a provider who will do this, I'd love to hear your experiences.

So far I have tried:
HSBC - Buy to let only.
First Direct - No consent to let for new customers.
ING Direct - No consent to let at all.
Woolwich - No consent to let until 6 months into the mortgage.
Halifax - Would move me to buy to let interest rates, but would have to pay two product fees in the same month, one for residential mortgage, second for buy to let and the rate is high.

Any opinions gratefully received.

s1mon

fireman_dave

hi

i'm in a similar position, remortgaging but have a chance of working abroad, possibly next year. Although it's only a chance i wanted to leave myself the option of consent to let and found C&G to be most helpful. In that event they would provide a consent to let for a small admin fee and if i was still letting at the end of the mortgage term they would then ask me to take out a btl mortgage. But for the term of the existing mortgage nothing changes.

Worth having a chat to them maybe and explaining that there may possibly be a chance you might have to consider renting your house out... just leaving options open!

FD

badrol

Dunno if it helps, but when we moved abroad, Nationwide were fine for us to let the property for a period of three years (on a normal mortgage), and after the initial three years, they extended that for another three years which I found was very good of them.