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Consent to lease
Fran_M
Posts: 1 Newbie
I am looking for some advice please. I bought a property with a mortgage and equity stake a few years ago. After a few years I moved in with my now ex partner and intended to sell the property but due to falling prices could not do this.
I now need to relocate for work reasons and as a result want to formally rent out my property. I only have about 5/10% equity in the property although I could pay about another 5% off.
I do not think I will qualify for a btl mortgage as my equity is not high enough and I also do not own another property - I will be renting.
Am I likely to get consent to lease?
I have never asked for this before so I am not sure of the best way of dealing with this.
Help appreciated!
I now need to relocate for work reasons and as a result want to formally rent out my property. I only have about 5/10% equity in the property although I could pay about another 5% off.
I do not think I will qualify for a btl mortgage as my equity is not high enough and I also do not own another property - I will be renting.
Am I likely to get consent to lease?
I have never asked for this before so I am not sure of the best way of dealing with this.
Help appreciated!
0
Comments
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If it's shared equity, no.
You need to check the details of the particular scheme, but most specifically prohibit letting.
http://www.myfirsthome.org.uk/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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