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Consent to let from mortgage lender
Seanh24
Posts: 3 Newbie
I have been looking into moving to a new city due to a lack of job opportunities where I live and have asked my mortgage lender for consent to let my flat out.
I have been told that they do not give consent to anyone for the mortgage product I have and if I want to let it I would have to pay early repayment charges and take out a buy to let loan. The early repayment charges alone cost more than my remaining payments until I can remortgage in 10 months time.
I didn't realize they could refuse to allow you to rent your property, is this right? Also is there any way of getting around this?
Mortgate lender is Birmingham Midshires.
I have been told that they do not give consent to anyone for the mortgage product I have and if I want to let it I would have to pay early repayment charges and take out a buy to let loan. The early repayment charges alone cost more than my remaining payments until I can remortgage in 10 months time.
I didn't realize they could refuse to allow you to rent your property, is this right? Also is there any way of getting around this?
Mortgate lender is Birmingham Midshires.
0
Comments
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Have known this to happen many times, the mortgage company doesn't have to allow it and usually the rates for BTL mortgages are higher.One day I might be more organised...........
GC: £200
Slinkies target 2018 - another 70lb off (half way to what the NHS says) so far 25lb0
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