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Letting advice please.
Luis
Posts: 637 Forumite
I am still in my 'fixed period' with A&L, so to come out of that would cost me quite a bit. What I am hoping is that they will do me a consent to lease.
What I would like to know, is do lenders tend to stipulate a minimum letting fee-to-mortgage payment ratio type thing - eg rental income must exceed payment PLUS a %age, or amount?
Thanks.
What I would like to know, is do lenders tend to stipulate a minimum letting fee-to-mortgage payment ratio type thing - eg rental income must exceed payment PLUS a %age, or amount?
Thanks.
"It was not my intention to do this in front of you. For that, I'm sorry. But you can take my word for it, your mother had it comin'."
Overlord for the Axis of Evil (part time)
Overlord for the Axis of Evil (part time)
0
Comments
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They do on a but-to-let mortgage. They can be more flexible on a consent to lease as they already hold a mortgage on the property and consents are often temporary. They also don't want to intentionally put you in a position where you can't pay them.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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