Northern Rock valuation for LTV

salduck

Hiya,
Applied for Consent to let from northern rock and it was passed to underwriters who have come back saying the LTV is to high- what I would like to know is where they get their valuation of the house from?
Also what are they likely to do if i dont get consent and the tenants have moved in already
I sent them job relocation form and all the info the rent is 137% of the mortgage monthly so that shouldnt be a problem
TIA
Sal

hoggums

I'd be careful here - if NR find out you've let the place out without their consent they probably have the right to call in the mortgage.

salduck

Thanks I realise that however I am trying to find out the answers to the LTV thing first and then can work from there. i realise its in breech of my mortgage terms however I am afraid i dont have much choice at the moment :@(
Anyone on the other points?
Sal