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Consent to Let
ravisivapriya
Posts: 2 Newbie
We are in a sticky situation, recently we had to move our prime house due to a schooling situation for our kids. Due to this we had to leave our main house for consent to let and we ourselves are renting a home near the school . We are not able to get better mortgage deals for our main home and are on SVR of 4.95 paying very high interest. Are there any one who are on same situation but was able to strike some better deals in the present market situation ?
regards
regards
0
Comments
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Speak to your current lender and fix a new deal, explain that you want a consent to let after the new deal and see what they say.
Your LTV needs to be low enough and the rent you will receive needs to be 25% more than your mortgage payments.
If you change lender then they will not grant you consent to let."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0 -
You won't be able to switch to a new residential mortgage if you're letting out the property. If you have enough equity you could look at BTL mortgages. Are you renting your new home? I believe that BTL mortgages often require the applicant to have a residential mortgage on a different property.
You might get a better response on the mortgages board.Let's settle this like gentlemen: armed with heavy sticks
On a rotating plate, with spikes like Flash Gordon
And you're Peter Duncan; I gave you fair warning0
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