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Do First Direct/HSBC allow you to rent your house out?
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FIRSTTIMER
Posts: 637 Forumite
If you go travelling or away for work for two years max
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Hi there,
If you have a residential mortgage, you will need to speak to the mortgage lender. You can put the situation to them and ask for their permission to let the house. I think each lender will weigh up the situation on a whole. If they give you written consent to do this, then you can start to look into this further (i.e. getting landlord insurance, estate agents) etc.
Laura
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Both of them are pretty relaxed about what is labelled 'Consent to Let'.
You just need to apply to them, and as long as they are aware of your intent to return to the property, I would expect them both to accept it without any dramasI am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Broker, 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 advice0 -
Oh wow I was thinking they would say no as I have a 85% ltv residential mtg0
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You should be fine. As long as they don't think its a 'backdoor BTL', then you will be fineI am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Broker, 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 advice0 -
I had read previously that these lenders wouldn't consider a consent to let. Good to know!0
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