First Direct's refusal to do Consent to Let

stoke_bishop

Hey,
Do you think that if in a few years' time I need to let my house out cos I have to move away (always a possibility) that FD would allow me to do eventhough when I speak with them now they tell me it would not be possible. Would they actually show some understanding do you think? Or if I'm bothered about CtL, should I just avoid them.

Thanks in advance...

Noz

Well if they told you that they wouldn't then I would not make any plans on the basis that they may change their minds in the future

MarkyMarkD

Indeed. I used to live in Stoke Bishop, by the way (as a student in hall).

Perhaps FD do not allow their mortgage borrowers to let, as a matter of policy. It would be mad to take a mortgage from a lender with that attitude if you think it's probable or even possible you'll have to let.

stoke_bishop

MarkyMarkD wrote: »

Indeed. I used to live in Stoke Bishop, by the way (as a student in hall).

Perhaps FD do not allow their mortgage borrowers to let, as a matter of policy. It would be mad to take a mortgage from a lender with that attitude if you think it's probable or even possible you'll have to let.

Thanks for that.

I was a student here as well, just ended up staying in Bristol!

mpsavuk

You'd probably have to change your mortgage from owner occupied to buy to let to do this.

MarkyMarkD

That's not true, for quite a number of lenders, mpsavuk. That's why it's important for the OP to choose a lender which allows letting on their residential products in the first place.

I also stayed in Bristol after university, but only for 8 years and now I am elsewhere.

dunstonh

First Direct have always cherry picked business. It doesnt matter what area. If you fit their criteria they are often good value. If you go off their criteria they dont really want to know most of the time. Based on their track record, I wouldnt enter a major contract like this knowing that an option you may need is not currently available as chances are it will never be available.