Consent to lease mortgage with halifax

meso

Hi,

I need some advice on whether to accept the options or not. I've been talking to Hailfax not long ago about changing my mortgage to a consent to lease/let. I was a bit shocked with the rates they came back with.

The situation is that my 5 year fixed deal is ending soon and I wish to move back to the city and put my house on the market. I was concerned that my house wouldn't sell and heard about the consent to let option. Halifax has agreed this but gave me a choice of two products:

• fixed for 3 years with rate of 5.9% in which I will be tied; or
• variable tracker with a rate of 6.9% and not tied.

Given where the interest rates are I expected the rates quoted to be alot less. I thought when the rate deal ends I would go to the base rate (0.5%) plus the lenders rate. Am I barking up the wrong tree or should I see a broker to get a better deal. Any advice would be welcome.

Cheers, S.

Caz3121

how much equity do you have in the property? you would normally need max LTV 75% for letting

meso

Around 15%. But they have agreed the consent.