Jump to content
House Price Crash Forum
Sign in to follow this  

Consent to Let

Recommended Posts

Been looking into Natwest mortgages. It seems that what a number of LLs do is buy a house and initially pretend they will live in it. Then a week or so after completion, request a Consent to Let authorisation to put a tenant in. Once the mortgage deal has run out (e.g. the fixed term of 5 years, on a 25/30/35 year mortgage) they can stay on the SVR, however, they can also actually renew onto, say, a new fixed 5 year term ON A RESIDENTIAL MORTGAGE.

Despite it being rented out prior, during and after the renewal the LL can still stay on a residential mortgage on the basis that the original intention for the house was for the LL to live in it. Now, I can understand how they could be allowed to stay on the SVR; however, renewing a residential mortgage on this basis smells like mortgage fraud in a big way. Is this legit?

Edited by Drummer

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.