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lenders permission to let?
Comments
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zarathedog wrote: »The lender is coventry BS. No not re asked them i could give it a try but nothings changed since last time so i wont hold to much hope.
Not sure this is any help, but we used to rent out a house that was on a residential mortgage with Coventry BS and they were more than happy to give consent to let in exchange for a 1% hike in the interest rate. This was back in 2006/7 I think.
Is it worth asking why they do it for some customers and not others? We had around 35% equity in the property and never missed a payment with them if that helps.0 -
nollag2006 wrote: »
Don't forget also to register with HMRC's NRL scheme to esnure you get your rental payments from the tenant gross of income tax:
http://www.hmrc.gov.uk/cnr/nr_landlords.htm
This is only if you're going to be living outside the UK.IANAL etc.0 -
Not sure this is any help, but we used to rent out a house that was on a residential mortgage with Coventry BS and they were more than happy to give consent to let in exchange for a 1% hike in the interest rate. This was back in 2006/7 I think.
Is it worth asking why they do it for some customers and not others? We had around 35% equity in the property and never missed a payment with them if that helps.
Seems that some lenders base their decision on whether to grant consent on the amount of equity in the property. Seems like you had alot ...0 -
ive spoke to coventry they say that there gonna get back to me in a day or two with a decision. They said they wouldnt normally do it but will consider due to the "current economic climate". Fingers crossed then0
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