Consent to let, but what if I move back in?

by Readers Question

12:05 PM, 19th June 2017
About 2 years ago

Consent to let, but what if I move back in?

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Consent to let, but what if I move back in?

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



Comments

Neil Patterson

12:08 PM, 19th June 2017
About 2 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.

Dylan Morris

14:45 PM, 20th June 2017
About 2 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.

Jerry Jones

16:28 PM, 20th June 2017
About 2 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.


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