Standard Mortgage to Buy to Let

samson1_2

My current lender Norwich and Peterborough part of Yorkshire building society I think gave me permission last August to let my property which I have managed to do.
This permission expires August 2013 can anyone tell me what will happen then?
The loan to value is very small something like 25% will they just convert it automatically to a buy to let mortgage or will I have to go through the process of applying.
If so I do not think I would have much chance of fulfilling the criteria to take out a new mortgage.
My circumstances have changed a lot in last 5 years,my wife has poor credit history and I am currently residing and working abroad where I am working on self employed basis. The income would not cover a new application although I do have 2 buy to let's in UK that are producing about 900 per month.
Some figures which will maybe aid a reply
Current mortgage 130k at 3% With 9 years to run
Property value approx 600k
Currently let at 2000k
Self employed income of about 20k
2 buy to let's with income of around £900 per month
Wife with very poor credit

Thanks in advance

kingstreet

In the first instance, ask your current lender for extended consent to let?

simpywimpy

Halifax do an ex pat mortgage where you can let it for a set time. My hubby works abroad and we are now in a position where we are unable to get another BTL mortgage here because they wont lend to people who are out of the country more than in it, even though I live here and both of us have excellent credit records.

I have two BTL properties both with small mortgages on but I cannot seemingly show this monthly amount as my personal income so I also am unable to get a mortgage

Would be interested if anyone had been successful along these lines.