First Active -consent to let?

MoneyJuggler

Anyone had any experience of getting consent to let with a First Active residential mortgage?

Just wondering if anyone knew their terms in this situation?

Thanks for any help!

Thrugelmir

First Active stopped all new lending a while back. Suggest you give them a call to ascertain their policy on CTL.

MoneyJuggler

Thanks, I will give them a call, was just trying to get a little more info on how they handle situations like that before I call.

Anyone actually had CTL with First Active?

caffajee

I am looking to negotiate a consent to let with first active too - did your request have a positive outcome?

MoneyJuggler

caffajee wrote: »

I am looking to negotiate a consent to let with first active too - did your request have a positive outcome?

I haven't contacted them yet,as I'm not sure how our situation will pan out -ie if we manage to sell our house and buy somewhere else instead, I was posting to see if anyone had any experience of this with them already.

Good luck with yours, and please post if/when you speak to them!

Smoggy73

I have had ctl from first active but they will only let you do it for 12 months max hope that helps

MoneyJuggler

Thanks, yes that's really useful to know.:)

clerrick

Can i ask, did they charge you a fee?

Thanks

giveusaclue

I contacted first active about consent to let said there would be £100 charge and would review in 12 months. Not sure what happens then.

Am considering letting current home whilst buying another. This will be first time to let a home.

Could anyone help with rough profit figures. Would get around £500 a month rent. Management fees 12.5% so £62.50. Mortgage is only £110 a month. Would be furnished so think can claim tax relief on wear and tear and some other expenses. Am a 40% tax payer, property worth around £140k.
Thanks