How to obtain Consent to Lease from Halifax

loops88

I am looking to obtain a consent to lease from my mortgage broker Halifax but they are asking me to go onto a new rate that will increase my monthly repayments by £100 and mean that I will lose money by renting out my flat - any ideas round this? Also by going on the new rate will this affect my capital gains tax allowances when I come to sell?
A bit of background for you - I own my own flat but want to move out and rent with my boyfriend in a different part of London and we will be renting not buying to see if we like it.
I am on the Halifax standard variable rate of 3.99% as my first fixed term mortgage ended and i have not agreed to another one as yet as I didn't know what would be the best with the change in my circumstances.
So I have the option to have another 2 year residential mortgage at 3.24% do you think if i agree to this they would be more likely to give me a consent to let or will it make no difference.
Will not going to to buy another property make a difference - I am sure i mentioned it when speaking to them but someone told me that maybe i should hammer it home a bit as i will still only own one home.
The other option (I want to do it all by the book btw) is to change my mortagage to a buy to let with Natwest which will decrease my payments to what i am on now but there is the issue of the capital gains tax in the future.
Hope that is all the info, so basically I don't want to make money out of renting but I don't want to make a loss and don't want to pay capital gains tax when i sell and not really sure what way to turn - any help / advice gratefully recieved.
Regards,
Louisa

opinions4u

The CGT issue exists regardless of what mortgage product you're on.

Annisele

GM has a very useful post for new landlords here.

I don't understand what your CGT issue is. As opinions4u says, if CGT is payable, it's payable regardless of the mortgage product.

Are you perhaps getting mixed up with income tax? If you pay a higher interest rate you will pay less income tax - but overall you'll have less money in your pocket than you would with a lower rate.

Halifax doesn't have to give you consent to let at all - it could just say no. If it says it will give you CTL but only at a higher rate, there's no much you can do about that other than remortgage elsewhere.

Do you have enough equity in your flat to switch to a BTL product? You usually need at least 25%.