Letting permission for residential mortgage

aastha

My remortgage gets finalised within a week.
I had applied for mortgage some where in May.
After that I got a great job offer from a London based company.
And have to relocate to London.
But want to rent out our house; instead of selling it.

Now the mortgage advise has asked me to be quite about it and apply for permission to let after three months of re mortgage.

It all sounds very iffy; and am worried that I should not get into pickle afterwards.

Any advice will be of great help.
Please.

Somerset

Your advisor is concerned your lender won't give a consent. I'm not surprised. From your lender's point of view it all looks very iffy, like it's a Btl situation that you weren't up-front about. I'm not disbelieving you. But lenders will consent, but look at how long a place has been the clients PPR and form a judgement on whether it's legit. In your case it's practically from the start. All you can do is ask and see. I wouldn't have thought 3 months would buy any credibility and I'd personally be honest and not lie about that 3 months. But I'd also be prepared for a refusal/remortgage proposal. It all depends on your lender. Good Luck.

aastha

Thanks for your advice.
You have definitely, made it much clearer for me.
I will need to contemplate on this one.
Thank you.