Consent to let with Nationwide

bromine

Has anyone applied for consent to let from Nationwide recently? If yes, how difficult it easy was it? Were there any requirements of equity or time spent on the mortgage etc? Was there any time limit on the consent? Any other useful information will be greatly appreciated. Thanks

K_S

bromine said:

Has anyone applied for consent to let from Nationwide recently? If yes, how difficult it easy was it? Were there any requirements of equity or time spent on the mortgage etc? Was there any time limit on the consent? Any other useful information will be greatly appreciated. Thanks

@bromine I have assisted a client recently with getting CTL on their flat to avoid paying an ERC on the rest of their 5 year fix. It was relatively straightforward and basically just involved sending in a form. As it was a leasehold, they asked for proof that the freeholder had given permission so there was a delay due to that. But otherwise it was just a matter of sending in the form and them applying a 1% loading on the rate and barring any further product-switches, etc.

This was at 80% LTV and afaik there wasn't a time limit (I might be wrong here as the paperwork went to the client). This mortgage had been running for 2+ years, so no idea if there's a minimum time after completion or not.

kingstreet

More here;-

https://www.nationwide.co.uk/mortgages/existing-mortgage-members/letting-your-property/