Halifax - consent to lease - help please

grey_lady

Ok, so looks if we buy the new place then I will have to sell at a loss to get the halifax mortgage, but I thought it worth getting a second opinion from another broker in case there is a lender out there that can help. By that I mean not mind me having two residential mortgages until my place is sold, I wouldnt bother with letting it - hopefully will find out tomorrow now.

But I was also wondering, and maybe someone here knows, is it worth our directly approaching the bank that we both use for our business accounts?

JA1000 - partner has his own place but is able to rent that out, moving in with me would be a bit of a squeeze and we've spent ages looking for a great place that we can have together, now we might have found somewhere I dont really want to put it on hold for who knows how many years if there's a way to do this.

MPlant

I'm also wanting consent to let from Halifax, but before calling them wanted to get some advice...

I purchased my flat in Leeds in May 2008 (purchase price £106,000) with a 10% deposit. I currently have a mortgage with the Halifax of around £96,000.

The mortgage was secured through a broker on a self certified basis as I was self employed at the time. I took out a 5 year fixed term mortgage at 5.85%. It is just in my name although I live with my partner.

The flat was purchased as a repossesion at a good price; it was renovated in December 2008 with new bathroom, kitchen and interior decor. I suspect the current value is the same as what we purchased it for, if not slightly higher. I called the estate agents we purchased it through in January 2010 to get an idea of its market value; they said if they were to put it on the market they would place it at around £115,000 (probably hoping to sell it for £110,000 or what we paid).

My partner and I are planning to move to (and rent in) London next month and hope to stay there for the next 3-5 years. I want to train as an actor and the opportunity for this in London is much greater than in Leeds. I am hoping to be a full time student in London in September, however our impending move to London is to make sure I have part time training prospects regardless.

I have been self employed as a small business manager for the past few years; this is not something I wish to do anymore due to my plans to train as an actor. As of mid-April my current part time contract comes to and end. I don't wish to work on a self employed basis after this. If I stay in Leeds living in my flat I will have to seek temporary work; I would rather seek this in London than in Leeds. So technically, as of end-April, I will be unemployed.

Basically, it is essential that we move from Leeds to London by May. We have also found some lovely tennants who are interested in our flat who can move in when we move out. The rental price covers the mortgage interest as well as the service charge we pay to the managing agent who provide communal services and overall buildings insurance.

I don't really wish to sell the property: a) because we would incur fees from the Halifax to get out of our mortgage; b) I don't really want to sell the property as I wish to remain on the property ladder; and c) I wish to have a base in Leeds should we move back.

Before calling Halifax I would like to be aware of what my options and also what I would like to discuss with them. For example, I've read on other posts that they are more flexible if you require the consent 'out of necessity'. If this is the case I would prefer to put forward a strong argument for this due to my work situation, the relocation, me potentially becoming a student, etc... However, I also don't want to put myself in a vulnerable position by sharing with them anything I don't need to (i.e. pushing the fact I am unemployed if it will not work in my favour when I am actually very employable, etc).

If I contact Halifax what will be my options?

Would they offer me a CTL mortgage? Or Would they try to push me towards a BTL mortgage?

If so, what kind of interest rates would I be looking at paying, and what fee would they charge?

Also, on what grounds are they most likely to refuse and how do I prevent this?

Thank you all for your help in advance!!