Lenders understand that circumstances change and are very flexible. If you are stuck in a fixed rate and need to move, many lenders will allow consent to let to accommodate the change you have experienced. Have a listen to the 60 second clip and if you need to know more get in touch via email hello@patrickjamessolutions.co.uk Your home may be repossessed if you do not keep up repayments on your mortgage.
Hi and welcome to today’s 60 second snippet into the mortgage world and today’s subject consent to let. Okay so I’m going to give you a scenario here because it’s not something you look at when you’re purchasing a property. You don’t automatically think can I rent this property out? Otherwise you’d be looking at a buy to let. What you’re thinking though is your circumstances for the next twenty five years or whatever your mortgage term maybe might change. You buying a property in London but you’re from up north and if that job doesn’t work out or you get a job up north then you might not want to live there but in the meantime you want to purchase a property. So you have to take these things into consideration especially during things like fixed terms where there maybe penalties to exit that mortgage it might not be the right time to sell you might not be able to sell or afford to sell there are lenders out there that will allow consent to let. Like I said earlier it’s not exactly something you want to be asking your lender upfront it’s not something you’re probably going to think about, but we know the criteria of the lenders and we know which are more au fait with that type of scenario.