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Consent to Let on two properties with same lender?
Brighty
Posts: 755 Forumite
Hi all
Currently own a property down south 50/50 with my brother, property 1. It's on a residential mortgage with nationwide, currently rented out with consent to let and has been for a number of years since we both ended up relocating.
I also own a property up north with my wife, property 2, also on a nationwide residential mortgage. This is where we currently live.
Also own 2 other properties 50/50 with my brother. Both mortgage free and rented out. One of these is down south, property 3, over the road from property 1.
Life up north isn't working out, wife wants to move back down south to have her family around her to help with the kids, so looks like we're moving back down.
Can't afford to buy or even rent something down there with prices the way they are, so our only option is to move into one of the let properties. Can't/don't want to move back into the mortgaged property 1 for a number of reasons, so it will be the mortgage free property 3, therefore we still need CTL on property 1.
Want to keep property 2 up here for now in case she changes her mind, I end up coming back on my own without her etc, plus we'd have to pay early repayment charges, plus house will take a long time to sell due it's rural location. So therefore looking to apply for CTL for property 2.
Do you think they'd be any problem getting CTL from nationwide, when we already have it with them on another property? Therefore 2 lots of CTL on 2 properties both with nationwide?
Cheers
Brighty
Currently own a property down south 50/50 with my brother, property 1. It's on a residential mortgage with nationwide, currently rented out with consent to let and has been for a number of years since we both ended up relocating.
I also own a property up north with my wife, property 2, also on a nationwide residential mortgage. This is where we currently live.
Also own 2 other properties 50/50 with my brother. Both mortgage free and rented out. One of these is down south, property 3, over the road from property 1.
Life up north isn't working out, wife wants to move back down south to have her family around her to help with the kids, so looks like we're moving back down.
Can't afford to buy or even rent something down there with prices the way they are, so our only option is to move into one of the let properties. Can't/don't want to move back into the mortgaged property 1 for a number of reasons, so it will be the mortgage free property 3, therefore we still need CTL on property 1.
Want to keep property 2 up here for now in case she changes her mind, I end up coming back on my own without her etc, plus we'd have to pay early repayment charges, plus house will take a long time to sell due it's rural location. So therefore looking to apply for CTL for property 2.
Do you think they'd be any problem getting CTL from nationwide, when we already have it with them on another property? Therefore 2 lots of CTL on 2 properties both with nationwide?
Cheers
Brighty
0
Comments
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No one got any ideas on this one?
Getting the CTL application form from NW today, but wouldn't mind getting an idea if it's even likely, so we can start making plans for everything else.
Cheers
Brighty0 -
Nope. Only suggestion would be to ask the lender concerned.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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Consent to Let on two properties with same lender?
Sounds as if you are running a business. Rather than temporarily living elsewhere.0
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