Sarah05

Haven't got enough equity for BTL. We are currently on SVR and plan to sell the property in few years time. Even if we don't then after the fixed term deal we will be back on SVR. The comparison I am trying to do is the difference of rate between a new fixed term deal and a consent to let, which is huge.

I have a big dilemma. I wish to get “consent to let” from my mortgage provider. I know it won’t be that difficult to get one but rate of interest would shoot up quite drastically. Now, I have been told by a friend of mine that if I remortgage first and enter into a fixed rate product then for the period of that fixed rate tenure I will not be charged the consent to let rate. Which in effect means that I will get the consent to let from the mortgage provider and still be paying a lower rate of interest. Is that correct? Can you please throw some light on this? Regards Sarah