Northern Rock mortgage - permission to let

AngelsMadv

I can see where you're coming from, Angel (my name is a coincidence btw before anyone starts!) but I would heed the advice from people here.

I turned my 125% NR mortgage (it was a very good mortgage for me, and I'm one of the few who can and do afford it) into a buy-to-let (well, I got consent to let anyway) with 95% still on the mortgage.

I did, however, have one of the very good reasons on it. I was moving and relocating due to work. I think that saying you want to move in home because you can't afford will not install confidence from NR. As another posters has pointed out, how do you exspect to pay for repairs etc? My house was fine with no worries whatsoever whilst I lived there. Since moving out it's cost me £2000! I see this as an investment and my increased salary due to relocation allowed for this.

Please listen to the posters here, they know what they're talking about.

So, in brief, yes NR will do it, but you have to have a good and valid reason. If not, I'd advise you sell and take the hit. Good luck with whatever you decide.

surreybased

Hi,

Being a landlord does require you to expend some extra money upfront so if you're struggling I think this will create extra stress. Can you take in a lodger? If you're not able to afford it now and don't see a way to reduce the debt or increase your income then I would think about selling.

VIGILANT22

This is the application form which has to be completed

http://www.northernrock.co.uk/downloads/consent_to_let_app_form.pdf

Don't just assume they will refuse you consent......