Hercules Botha

Registered with Property118.com
Wednesday 8th July 2015


Latest Comments

Total Number of Property118 Comments: 5

Hercules Botha

14:31 PM, 21st January 2017
About 4 years ago

Help with Consent to Let after whirlwind romance

HI Jim,

Consent to let is free sometimes. (Depending on the lender) And can last for 1-3 years at a time. You need to forget the tips and tricks you have been told on here as this logic does not stand up to a lenders policy. The lenders policy is your yard stick.

I find it frustrating when people try to bend the rules, because most lenders will listen to you. They all have signed up to TCF( Treating customers fairly) They have to take you circumstances into account. I have checked with Woolwich. You just need to call them. They will ask a series of questions. After that they will decide. Usually it is questions to make sure your are being genuine. As you are state side, you'll have a good chance I think, as it is all genuine. As you are applying for a green card, I would assume you have a lot of documents proving your marriage, residency etc. It is unlikely they will ask for these documents, but keep them handy.

https://www.cml.org.uk/lenders-handbook/englandandwales/barclays-bank-as-the-woolwich/?pdf=true#C8913

This is the Council of Mortgage lenders handbook. Specifically, Woolwich's part. You should read 6.6. and PLEASE talk to them and get the facts! Not opinions.

It is ironic that Ian mentioned how the banks were caught and how they were fined for fraud, but seem to think it makes this okay for someone else to do. What do you think will happen if you get caught? They are not going to hold back. They like every corporate will "follow procedure".

Be upfront. if they say no, you will have more leniency directed to you to get the house sold if need be. If they catch you out, they won't care what you have to say.... Read More

Hercules Botha

12:22 PM, 21st January 2017
About 4 years ago

Help with Consent to Let after whirlwind romance

Reply to the comment left by "Thom Hill" at "21/01/2017 - 12:06":

Couldn't agree more Thom. It is fraud. Very simple. The reason to get consent to ket is perfectly normal. People need to be honest. Lenders can see far more than you think. Halifax's fraud team out number their new business team 2 to 1. And yes. I heard this from Halifax themselves. Please people, don't con yourself into thinking you are justified. You only have to get cought once and that is it.... Read More

Hercules Botha

12:21 PM, 21st January 2017
About 4 years ago

Help with Consent to Let after whirlwind romance

Reply to the comment left by "Thom Hill" at "21/01/2017 - 12:06":

Couldn't agree more Thom. It is fraud. Very simple. The reason to get consent to ket is perfectly normal. People need to be honest. Lenders can see far more than you think. Halifax's fraud team out number their new business team 2 to 1. And yes. I heard this from Halifax themselves. Please people, don't con yourself into thinking you are justified. You only have to get cought once and that is it.... Read More

Hercules Botha

11:24 AM, 20th January 2017
About 4 years ago

Help with Consent to Let after whirlwind romance

I would mention everything. The fact that you are moving to America is one of the reason lenders would agree the consent to let. It is a valid reason. Same as for people who have found work away from home or go travel. If say you want consent to let and then tell them you are moving to mom and dad's you'll have a much harder time justify it.... Read More

Hercules Botha

9:10 AM, 20th January 2017
About 4 years ago

Help with Consent to Let after whirlwind romance

Congratulations D. I agree with Neil. It is very black and white to a lender. You are in breach of your contract. One of my client who own a number of properties had the lender go round their rental properties and do spot checks. She had no issues as she has always done everything correctly.

Getting your mortgage switch to a buy to let now will be expensive. You'll have a penalty to pay to come out of your deal early. And most ex-pat BTL's I have done require lots of equity in the property.

Get the permission to let. Renew as you need to. Most lenders are understanding of this as long as you are upfront with them. It will cost far more than permission to let if they found out and started making waves. Also, you don't need that stress for the sake of a £100-£300, you'll be all the way in America.... Read More