Platform Mortgages - consent to let?

fedup2007

I've been waiting for Platform to make a company wide decision on their new criteria for consent to let for about 3 months and am still waiting! Guess once the policies are signed off I will then have to wait again to see if I am eligible...

Does anyone else already have consent from Platform?

What were the criteria/fees?

I keep calling them and asking for an update/information and they won't give me anything at the moment.

Thanks.

G_M

Trywroting to them and informing them that since you have received no objection to your letter xx date advising them you wish to let the property, you are proceeding with the letting.

Dave_the_Ginger_Cat

Not sure I agree with the advice below, tempting though it might be.


You'll need consent to insure the property and to let it through any reputable agent, so assumed consent would not be any use here


I would attempt to escalate it internally, or gain agreement for a timeframe for it to be considered.


Don't forget it's not a right for consent to be given

G_M

Dave_the_Ginger_Cat wrote: »

Not sure I agree with the advice[STRIKE] below[/STRIKE]above!?, tempting though it might be.
it was half tongue in cheek advice, though it might trigger a response.

You'll need consent to insure the property and to let it through any reputable agent, so assumed consent would not be any use here
CTL should not affect insurance either way, provided it is LL's insurance.
Yes, some agent may ask to see proof of CTL, but OP might not be planning to use an agent. And let's face it, many (most?) agents don't ask. They just want the business.


I would attempt to escalate it internally, or gain agreement for a timeframe for it to be considered.


Don't forget it's not a right for consent to be given

Escallation is certainly a good idea. as would be a formal 'official complaint'.

ACG

I used to work for Co-op (same company and I believe they have aligned their lending policies recently) - it used to be they would grant it if you had been there for atleast 6 months and had a decent reason and it was under 75% LTV

I cant recall if they loaded the rate or charged a fee (or both) but they used to grant it.

I find it hard to believe they do not have an interim policy whilst the new one is being signed off. Can you not find another lender and just get a BTL mortgage?

fedup2007

Thanks for the advice. I don't really want to go down the BTL route. My mortgage is relatively small and the house not in a particularly great area so would not yield a great return in rent (break even possibly). It wouldn't be worth the hassle and costs of renting if I had a drastic rate increase or incurred huge fees.

No interim policy, which I too find odd. I've changed the insurance to reflect the current situation (empty property) and will only let if I can get consent - just couldn't be bothered with the hassle if I got some militant tenants in.

I can comfortably continue overpaying the mortgage as well as fulfilling my other commitments. I just think its a shame to leave the house standing empty, and of course I am paying full council tax which is more than annoying!

ACG

Why are you paying full council tax? Im sure you can claim 6 months empty and then 50 or 75% thereafter.

BTL mortgages would probably be less than any consent to let rate you would get, you would need to compare that once the fees have been taken into account but I still think it could be less.

G_M

ACG wrote: »

Why are you paying full council tax? Im sure you can claim 6 months empty and then 50 or 75% thereafter.

.

Depends on the Local Authority concerned.

fedup2007

Yeah - my local council have changed their policy so no allowances now.

Ironically, I get single person discount, not sure how they work that one out. I thought about challenging the policy with the council as I can't see how they can charge for services that I would never make use of.