Changing/remortgaging a consent to let

mattwh

My ex wife and I split 3 years ago, she continued to live in the marital home until last August when she just moved out.
I put the house on the market and accepted an offer which would've just covered the mortgage, however this fell though as there was some movement in the property. This is currently being fixed by the insurers (just clay pipes so not a big job). However in the meantime we have rented out the property with a concent to let from Santander.
The rent is covering the mortgage so I was happy with this situation. However my ex's situation has now changed and she wants to come off of the mortgage ASAP. Santander wont let us do this (even if I pay off a chunk of the mortgage and replace her with my current partner who has a higher income) as they say it doesnt meet their current lending requirements.

So I am now faced with either putting the property on the market (which I dont really want to do as the current tennants are nice and our children go to the same school.

Does any one have any advice on selling to an investor who will take on the tennants.

Or trying to find a buy to let mortgage that will accept us.

Any advice would be greatfully recieved especially on selling with AST tennants or who are currently good for buy to let mortgages.

Thank you in advance

M

kingstreet

mattwh wrote: »

Santander wont let us do this (even if I pay off a chunk of the mortgage and replace her with my current partner who has a higher income) as they say it doesnt meet their current lending requirements...

...Or trying to find a buy to let mortgage that will accept us

I think you're going to have to expand on this.

There's every chance the reason you couldn't get a transfer of equity is the same reason why you won't get a BTL product.

Loan to value?
Credit history?
Rental income?

mattwh

Sorry for the delay;
Loan to value is currently 95% (this is the issue although I could increase it a bit)

Excellent credit history

Rental income is £695 per month

Thanks