consent to let help

Lurkingtoposting17

Blimey! If your current mortgage is £1700 a month in Birmingham on a two bed house no wonder they won’t give you consent to let. I’m buying a 2 bed house in south east London and mortgage will be £800 per month and I think if I were to rent it I could get £1100 a month! If £1700 isn’t a typo, I assume you’ve gone for a short mortgage length? They are probably worried about your ability to pay the mortgage as your rent surely won’t cover the whole of the mortgage payment? (Not that I know much about the Birmingham property market?!)

Brum2312

Lurkingtoposting17 wrote: »

Blimey! If your current mortgage is £1700 a month in Birmingham on a two bed house no wonder they won’t give you consent to let. I’m buying a 2 bed house in south east London and mortgage will be £800 per month and I think if I were to rent it I could get £1100 a month! If £1700 isn’t a typo, I assume you’ve gone for a short mortgage length? They are probably worried about your ability to pay the mortgage as your rent surely won’t cover the whole of the mortgage payment? (Not that I know much about the Birmingham property market?!)

Well I haven't actually asked them for consent to let yet. Just assessing my options!
Mortgage is 25 years, tracker mortgage. Bought house for 520k via Barclays.



I had a look at nearby properties and roughly speaking, I expect I could rent the place for 2000 a month if it was furnished. Definitely seems a bit of a minefield though!


I can't say I know much about the London property market, but I do know my house is in an awesome position if/when the high speed 2 line comes in. Hence my reluctance to sell it!

brit1234

bris wrote: »

It's not fraud, fraud is a criminal offence.

This would be a breach of contract so a simple civil matter between the bank and the OP.

It is fraud and it is a criminal offence. This is a public forum, if you haven't got the correct legal qualifications you probably shouldn't be giving legal advise.



Fraud by failing to disclose information

A person is in breach of this section if he—

(a)dishonestly fails to disclose to another person information which he is under a legal duty to disclose, and

(b)intends, by failing to disclose the information—

(i)to make a gain for himself or another, or

(ii)to cause loss to another or to expose another to a risk of loss.


https://www.legislation.gov.uk/ukpga/2006/35/section/3