Permission to let – can I get bank to change their mind?

by Readers Question

8:37 AM, 15th April 2016
About 3 years ago

Permission to let – can I get bank to change their mind?

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Permission to let – can I get bank to change their mind?

I live in a 2 bed flat with my partner and 2 kids and I want to rent the property out so we can then rent a large house for 2 years. I am a landlord myself and I own other flats on BTLs. complaints

I don’t want to sell it as its in a good location and I am unable to change it to a BTL as the figures don’t stack up. I did ask my lender 2 years ago for permission to let and they were Ok with it, but I did not go ahead at that time.

I have now asked them today as we are ready to move on but they have said NO we don’t offer that option anymore! Did not give me any reason other than that! Any ideas how I can persuade them to re consider?

I have raised it as a complaint but I am not sure if it will do any good.

Rob



Comments

Neil Patterson

8:42 AM, 15th April 2016
About 3 years ago

Hi Rob,

You have now instigated the complaints procedure which locks the bank into dealing with this for you. They have 2 chances to satisfy your complaint and then you are able to take it to the financial Ombudsman.

They may wish to avoid this as any complaint that gets to the Ombudsman costs the bank £500 whether they win or lose so they may just take the path of least resistance, but there are no guarantees.


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