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Tesco Mortgages consent to let
poolprouk
Posts: 43 Forumite
Hi there,
Am considering re-mortgaging to the cheap Tesco 2 yr fixed at 1.99%.
However my circumstances (possibility of work in oz) might change over the next year and i might need to seek consent to let.
As a new player to the market i'm finding it hard to find any examples of customers who've asked for consent to let from Tesco . I didn't really expect any as they only opened their mortgage book in August?
When i rang they said they'd assess the circumstances at the time and that they wouldn't do it only a couple of months after starting the deal but perhaps after 6 months. However i'm nervous that they've not been asked the question yet and so their policy may not be defined. i couldn't see anything on their website.
If i switched i'd be looking at saving about 3K over 2 years when compared with my current mortgage with Bank of Ireland (SVR at 4.49) but when i've enquired about Consent to let with BofI they've seemed pretty willing to do so and even sent me an application form ( i was surprised given their mortgage book is closed to new business and they are looking to offload customers.)
BTL isn't an option when i move abroad as i am soon to become self employed, therefore i am assuming my chances of getting a new mortgage then will be zero.
I'm concerned that if i switch and tesco refuse consent to let and/or force me to re-mortgage elsewhere i will have to sell the house as i wont be able to get a mortgage anywhere else being recently self employed.
Any thoughts will be appreciated.
Cheers.
Am considering re-mortgaging to the cheap Tesco 2 yr fixed at 1.99%.
However my circumstances (possibility of work in oz) might change over the next year and i might need to seek consent to let.
As a new player to the market i'm finding it hard to find any examples of customers who've asked for consent to let from Tesco . I didn't really expect any as they only opened their mortgage book in August?
When i rang they said they'd assess the circumstances at the time and that they wouldn't do it only a couple of months after starting the deal but perhaps after 6 months. However i'm nervous that they've not been asked the question yet and so their policy may not be defined. i couldn't see anything on their website.
If i switched i'd be looking at saving about 3K over 2 years when compared with my current mortgage with Bank of Ireland (SVR at 4.49) but when i've enquired about Consent to let with BofI they've seemed pretty willing to do so and even sent me an application form ( i was surprised given their mortgage book is closed to new business and they are looking to offload customers.)
BTL isn't an option when i move abroad as i am soon to become self employed, therefore i am assuming my chances of getting a new mortgage then will be zero.
I'm concerned that if i switch and tesco refuse consent to let and/or force me to re-mortgage elsewhere i will have to sell the house as i wont be able to get a mortgage anywhere else being recently self employed.
Any thoughts will be appreciated.
Cheers.
0
Comments
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The 2 year fix at 1.99% is full, so it was closed last night.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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