Constant to let interview

wacko2k

I'm planning to rent out my property which is currently on a residential mortgage with Skipton. I called to arrange consent to let and they have said I will need a telephone interview first which can't take place until next week.

Does anyone know what they will want to cover on the call? I understand they will increase the interest rate by 1% and charge £100.

I have a letting agent valuation well above 125% of the mortgage payments.

I'd like to get the property advertised this week. Is that a bit risky? I hope there will be no issues with the consent to let.

HappyMJ

wacko2k wrote: »

I'm planning to rent out my property which is currently on a residential mortgage with Skipton. I called to arrange constant to let and they have said I will need a telephone interview first which can't take place until next week.

Does anyone know what they will want to cover on the call? I understand they will increase the interest rate by 1% and charge £100.

I have a letting agent valuation well above 125% of the mortgage payments.

I'd like to get the property advertised this week. Is that a bit risky? I hope there will be no issues with the content to let.

No problems at all in advertising it. You'll need your consent to let in place before you agree for a tenant to move in but you can advertise now.

Thrugelmir

wacko2k wrote: »

I have a letting agent valuation well above 125% of the mortgage payments.

Skipton will use a generic calculation that won't be related to your current mortgage product.

hcb42

Title is confusing, presume you mean Consent to let..

wacko2k

hcb42 wrote: »

Title is confusing, presume you mean Consent to let..

Sorry, yes. Not sure how to edit that now.

wacko2k

Thrugelmir wrote: »

Skipton will use a generic calculation that won't be related to your current mortgage product.

Do you mean they will do the 6% x 125% calculation?

If so it also works out fine on that too.