Consent to let NRAM

sueM_2

Hi,

I have a mortage with NRAM and I need to let out my house because I need to move for work. I have read the criteria for eligability to apply and i meet them all except that the LVT must be 70% or less which mine is no where near, as i took out the 'together' mortgage in 2008 (after lots of bad advice):mad:.


Has anyone been given consent to let by NRAM with a LTV of 95%or more?

Thanks

ChrisG__2

Hi Sue,
I'm currently waiting on a CTL application decision with NRAM.
I have the together mortgage and my LTV or potential rent is nowhere near their guidelines.
I phoned them about this beforehand and they say they take each case on it's own merits anyway.
I need to move abroad with my job so I sent them a long letter explaining my situation and going through my finances with them.

I think if you really need to do it you can only apply and hope for the best. They can only say no, but you never know until you send in the app. I think it's worth your time really putting a good case together as opposed to just filling out the minimal details on the form they send you.

Good luck!
Chris.

sueM wrote: »

Hi,

I have a mortage with NRAM and I need to let out my house because I need to move for work. I have read the criteria for eligability to apply and i meet them all except that the LVT must be 70% or less which mine is no where near, as i took out the 'together' mortgage in 2008 (after lots of bad advice):mad:.


Has anyone been given consent to let by NRAM with a LTV of 95%or more?

Thanks

lloydsremi

Hi Sue,
This is for everyone who like me took out a together mortgage in 2006 and is in negative equity and desparately trying to find out info online about consent to let with NRAM.I had over 95% LTV with NRAM and needed to move. After talking to NRAM about 4 times and promising to pay off all my unsecured loan plus two salaries worth £70,000 per year, they eventually give us consent to let for 1 year at £100 with a chance for renewal next year although NRAM ARE INCREDIBLY SLOW IN REPLYING BACK as I am still waiting for their official letter after 1 week. Hope this gives some hope!!!!