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NRAM Consent to Let

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bridgy4579
bridgy4579 Posts: 6 Forumite
in Mortgages & endowments
Good afternoon all, I have a NRAM consent to let mortgage and am in the process of buying a second property. However the new lender has asked to see my mortgage statement and it does not state on there anything about it being consent to let. Is this correct? I don't want to pass it to them if it is wrong and jeopardise my new mortgage.

Thanks in advance
«1

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why the concern? The existing mortgage terms are none of the new lender business.
  • bridgy4579
    bridgy4579 Posts: 6 Forumite
    But they have asked to see my mortgage statement, so surely if it does not say consent to let, this will look bad? Sorry I am relatively new to this.
  • bridgy4579
    bridgy4579 Posts: 6 Forumite
    Anyone else have any advice or should I just put it in?
  • anselld
    anselld Posts: 8,643 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    They are probably just seeking to confirm you are up-to-date on payments.

    In what shape or form have NRAM given consent? Do you not have any document giving consent?
  • Westminster
    Westminster Posts: 1,004 Forumite
    Part of the Furniture 500 Posts Savvy Shopper! Debt-free and Proud!
    Why the concern? The existing mortgage terms are none of the new lender business.

    Presumably on an affordability basis?
  • bridgy4579
    bridgy4579 Posts: 6 Forumite
    I don't have any documentation stating it, and they have told me over the phone it wont show on the statement. Even with this new mortgage I have over £1k a month spare, sp affordability is not a concern.

    The rent is always paid and so is the mortgage. I shall just put it in and hope for the best.
  • Westminster
    Westminster Posts: 1,004 Forumite
    Part of the Furniture 500 Posts Savvy Shopper! Debt-free and Proud!
    Seems odd that they won't confirm the consent in writing along with the duration of the consent.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AFAIK NRAM now grants consent to let annually, with written confirmation subject to payment of the appropriate fee, which is LTV-based.

    https://forums.moneysavingexpert.com/discussion/4490485

    Last main thread on the subject, IIRC.
    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.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Westminster wrote: »
    Presumably on an affordability basis?

    The mortgage exists, the new lender will have full visibility. The rental income will be discounted. As not guaranteed.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bridgy4579 wrote: »
    I don't have any documentation stating it, and they have told me over the phone it wont show on the statement. Even with this new mortgage I have over £1k a month spare, sp affordability is not a concern.

    The rent is always paid and so is the mortgage. I shall just put it in and hope for the best.

    Is the NRAM mortgage on a repayment or interest only basis.
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