HSBC refusing letter to allow us to rent out our property.

kaylz39

I would just go.

Were currently buying a new home and renting our current out to family. I asked our mortgage broker if I need to apply for a buy to let mortgage but we dont have enough equity in the house. She mentioned the 'permission to let' to me but said its good for forwarding any important documents to our new property but thats it...whats the worst that could happen.

You'll be back in a year anyway!

GregDixon

I'm not an expert, but I believe if you don't have consent to let from your lender than your mortgage is invalidated..

Thrugelmir

kaylz39 wrote: »

.whats the worst that could happen.

The property catches fire.

brit1234

kaylz39 wrote: »

whats the worst that could happen

As well as risk of uninsured damage costing £10s-£100s thousands I believe you can also be credit blacklisted as well as being open for criminal charges.

Just put it off till the 6th month mark it is a lot safer.

Natfor

Thanks all. When it rains it pours. We found a decent buy to let to switch to then when we mentioned it to HSBC suddenly the letter is on it's way! Woohoo!!!

Dave_Ham

Natfor wrote: »

Thanks all. When it rains it pours. We found a decent buy to let to switch to then when we mentioned it to HSBC suddenly the letter is on it's way! Woohoo!!!

What - they have given you consent to let?

Natfor

Yep consent to let. We proved to them it was all a genuine change of plans and they obviously didn't want to lose the business if we switched banks. Got lucky! Thanks everyone.