Consent to let, but what if I move back in?
12:05 PM, 19th June 2017, 9 years ago
3
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If I get consent to let from my current residential mortgage provider and buy a new home for me to live in under a new residential mortgage… any ideas if I can temporarily move back into the consent to let property DURING the consent to let period?
e.g. if I need to re-do the kitchen bathroom etc of the new property and have to move out during the works.
Many thanks
Patrice
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Member Since February 2011 - Comments: 3453 - Articles: 286
12:08 PM, 19th June 2017, About 9 years ago
Hi Patrice,
It is important to let the lender know of your potential plans and timescales so they can make an informed decision, you don’t get caught out and they change their mind.
However, they may ask that if you move in you will not be receiving rent so how will you be able to afford both mortgages.
Member Since August 2016 - Comments: 1190
2:45 PM, 20th June 2017, About 9 years ago
If you are moving back in for a couple of few weeks whilst you have your kitchen and bathroom refurbished then given such a short timescale I doubt whether your lender would be interested one bit.
Comments: 297 - Articles: 1
4:28 PM, 20th June 2017, About 9 years ago
Regarding Consent To Let, I have just been caught out by this when talking to Santander, with whom I have what was a flexible residential mortgage, from when this was my own home. They will not revalue or allow me to draw further finds against the property now it is let so I either need to sell, remortgage or possibly have a second charge to access the equity to finance the refurb of another prop.