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Consent to Let - Yorkshire Building Society

NatalieGatti1985
Posts: 2 Newbie

Hi,
I wondered if anyone else who might have applied to Yorkshire Building Society for Consent to Let had this either approved or declined by YBS.
If declined what was their rationale?
If approved how long roughly did it take for them to process your consent please?
I have just sent off my C2L form to them yesterday.
Thanks, Nat
I wondered if anyone else who might have applied to Yorkshire Building Society for Consent to Let had this either approved or declined by YBS.
If declined what was their rationale?
If approved how long roughly did it take for them to process your consent please?
I have just sent off my C2L form to them yesterday.
Thanks, Nat
0
Comments
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Surely it would be a buy-to-let mortgage?
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sevenhills said:Surely it would be a buy-to-let mortgage?
It sounds like @NatalieGatti1985 already has a residential mortgage with YBS, so they just want consent to let - not a new Buy-to-let mortgage.
See: https://www.ybs.co.uk/mortgages/renting-out-your-home
@NatalieGatti1985 did you contact YBS before submitting your application, to find out their acceptance criteria, and decision times?
If not, I guess you could contact them now and ask. (Some lenders have a minimum period of ownership before they'll grant consent to let - to make sure you haven't bought the property specifically to let it.)
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eddddy said:
It sounds like @NatalieGatti1985 already has a residential mortgage with YBS, so they just want consent to let - not a new Buy-to-let mortgage.
See: https://www.ybs.co.uk/mortgages/renting-out-your-home
As I understand, buy-to-let mortgages are more expensive and would require different insurance, so the answer might well be no, unless they jump through certain hoops.
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sevenhills said:eddddy said:
It sounds like @NatalieGatti1985 already has a residential mortgage with YBS, so they just want consent to let - not a new Buy-to-let mortgage.
See: https://www.ybs.co.uk/mortgages/renting-out-your-home
It's pretty normal for lenders to allow letting of properties held under owner-occupier mortgages, within certain parameters.0
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