HSBC - Consent to Let - Recent experiences?

sarah3891

Hi all,

I'm in exactly the same situation - potentially being relocated with my job to 3 hours away but don't want to sell my flat - currently mortgaged with HSBC so am now thinking about my options.

I don't want to be forced to sell my property because I'm moving for work, but that thought is actually scaring me enough to not ring them and ask!

Silly eh?

Let me know how you get on! :-)

Sarah

nm123_2

I'd be interested to hear this too - my situation is a little different though... We may be going to Oz for a year (or two perhaps) and I'm hoping to get a transfer with work. We'd like to consider buying a flat before we go so that we have somwehre to come back to and are on the property ladder. Current savings give us 10-15% LTV depending on the property. However, I'm guessing that if we found somewhere to offer on now, it could take up to 3 months to go through, then we'd probably look to be moving 1 month from there.

What do you reckon the chance of obtaining a consent to let after not having the property for very long would be????

peld

Although about 15 months ago, HSBC gave me consent to let my flat (originally on a 100% mortgage too! About 96%equity at the moment i'd guess). Dont know if it made any difference that I was moving in to my gf's (owned) place, so technically I didnt have any new expenditure?

TEDDYRUKSPIN

HSBC will give you a consent to let - however, no more than 1 year. 12 months only and no charge.

They will not force you to go onto their buy-to-let rates. They can't anyway as their BTL mortgages are for premier clients only.

As for past experiences, I have seen people do this without even telling the bank. As long as you pay the mortgage, you should be fine.

As for tenants buildings insurance - you will have to check the policy of the company.