HSBC Consent to Let

[Deleted User]

My husband and I currently live in his house and my daughter and son-in-law live in mine. We are thinking about moving back to my house as it is bigger and would be looking to rent out my husband's house for income. We have a small mortgage on the house though with HSBC and I was wondering if anyone knows what their position is on Consent to Let? The mortgage is less than 20% LTV of the house but obviously we don't want to have to pay more than we are currently paying.

Another option would be to arrange a mortgage on my house where we will be living (currently its mortgage free) and pay off the HSBC mortgage prior to renting. We will of course, talk to HSBC about it, but just wondered if anyone could give me a heads up in terms of what their likely response will be to a request for consent to let?

Thanks

dimbo61

Are you doing this right!
better to speak to a mortgage broker about BTL mortgages as you are now setting up a business

marathonic

I've been reading that HSBC offer CTL with no additional charge or fee but only for a maximum of 12 months.

I don't think there is any option, whatsoever, of extending beyond this.

Therefore, I'd think very carefully about how to deal with the ending of CTL. God only knows what the lending criteria for a BTL product will be at that time.

[Deleted User]

Thanks marathonic, that's helpful. We may only rent the house out for a year or so anyway. If we want to continue after that we'll look at re-mortgaging