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Consent To Let/Lease - Armed Forces
4thbeastieboy
Posts: 1 Newbie
Good Afternoon,
I bought a house in 2006 on a residential mortgage. The original mortgage lapsed in 2008 and I have been on the SVR (currently 3.99%) ever since.
In 2012 I got married and we had our first child. We decided to relocate to where I worked. We had the property valued at a significant lower value to what I paid for it, in fact the value was the same as what was left on the mortgage, hence we were not in a position to sell
Halifax granted me a consent to let/lease certificate. The property is has been let since end of 2012 to the same person. At the time, the person dealing with me told me that whilst ever I was a member of the Armed Forces, that they would continually offer me a consent to let, as a goodwill jesture, do to the mobile nature of my work.
I've recently been relocated to Scotland for a 5 year job. The property which is Let has been on the market for over 6 months now, at less than what I paid for it, with not a single viewing (same as 2 other properties on my street) As my wife is in employment, and we have a second child on the way we have decided to remain in our current location, and I will commute when possible.
In the mean time I've been looking at re-mortgaging the property which is Let, being as there is no movement on the market.
I was under the impression I would be able to remortgage to a better residential deal than the SVR due to the better LTV now on the outstanding amount, and apply for another consent to Let, however Halifax have said I have to move to either a BTL mortgage, of a consent to let mortgage.
My question is, is there such a thing as Content To Let Mortgage? I can't find it anywhere (Only Residential & BTL), and if so what are the likely interest rates?
If they are anything like a BTL mortgage, then i think i am probably better off staying where I am, and just make over-payments.
An another hand, does anyone know if I was to apply to a different lender (Nationwide & Clydesdale Bank offer Consent To Let to armed forces), would I be able to take the residential mortgage and apply for consent to let, or do you think they would try and put me straight on BTL?
Many thanks for your time...
I bought a house in 2006 on a residential mortgage. The original mortgage lapsed in 2008 and I have been on the SVR (currently 3.99%) ever since.
In 2012 I got married and we had our first child. We decided to relocate to where I worked. We had the property valued at a significant lower value to what I paid for it, in fact the value was the same as what was left on the mortgage, hence we were not in a position to sell
Halifax granted me a consent to let/lease certificate. The property is has been let since end of 2012 to the same person. At the time, the person dealing with me told me that whilst ever I was a member of the Armed Forces, that they would continually offer me a consent to let, as a goodwill jesture, do to the mobile nature of my work.
I've recently been relocated to Scotland for a 5 year job. The property which is Let has been on the market for over 6 months now, at less than what I paid for it, with not a single viewing (same as 2 other properties on my street) As my wife is in employment, and we have a second child on the way we have decided to remain in our current location, and I will commute when possible.
In the mean time I've been looking at re-mortgaging the property which is Let, being as there is no movement on the market.
I was under the impression I would be able to remortgage to a better residential deal than the SVR due to the better LTV now on the outstanding amount, and apply for another consent to Let, however Halifax have said I have to move to either a BTL mortgage, of a consent to let mortgage.
My question is, is there such a thing as Content To Let Mortgage? I can't find it anywhere (Only Residential & BTL), and if so what are the likely interest rates?
If they are anything like a BTL mortgage, then i think i am probably better off staying where I am, and just make over-payments.
An another hand, does anyone know if I was to apply to a different lender (Nationwide & Clydesdale Bank offer Consent To Let to armed forces), would I be able to take the residential mortgage and apply for consent to let, or do you think they would try and put me straight on BTL?
Many thanks for your time...
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