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Can't get consent to let from Yorkshire bank
Comments
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Patrickc1985 wrote: »Mortgage is fixed for 3 years, is there anyway I can switch to a new provider?
Yes, and you would need to pay the ERC which I think you said was £8k0 -
Does the Landlord Insurance policy you are considering require you to have consent to let?Patrickc1985 wrote: »By not having consent, that would invalidate my insurance even if it's landlord insurance
Some don't.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 -
Interesting that we had a call on a similar situation last week where the client had told the lender (a different lender) that he was buying with his new partner and wished to let the property out. The lender declined the request.
We know from experience that had the reason been moving to a new area for a fixed period, consent would have been granted.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Looking at this from a lenders point of view - you buy a house on a residential mortgage and then want ctl within 6 months. I can see why this would look dodgy.
The lender I worked for would decline this no matter what the reason within 12 months.I am a Mortgage AdviserYou 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.0
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