Gareth 666 Posted January 14, 2013 Share Posted January 14, 2013 Just did some googling and looks like we had to move to a higher rate product as we were on standard variable at the time and to have a consent to lease you have to be on a product. Sneaky so and so's. Hi Do you know if thats a general rule or just specific to your lender? If its just your lender do you mind if I ask who they are? Quote Link to comment Share on other sites More sharing options...
lozzachino Posted January 14, 2013 Share Posted January 14, 2013 Not sure if its just our lender, halifax, or others too. Most people have put they didnt change product so i think these are ones on a product already. We were on svr and i guess they will do anything to screw you so we had to have a fixed or variable product and the rates were higher for products at the time, 2011. Quote Link to comment Share on other sites More sharing options...
catmonkey Posted January 14, 2013 Share Posted January 14, 2013 I'm with Halifax and they are making us change to buy to let mortgage which have higher interest rates Quote Link to comment Share on other sites More sharing options...
PDC Posted January 21, 2013 Share Posted January 21, 2013 Halifax forced us to take a mortgage at a higher interest rate, and charged GBP1500 for the pleasure. Also, if you call Halifax and enquire about Consent to Lease, and then do not get back to them with an answer, they will assume that you are proceeding anyway and send you a letter around 6 weeks later asking you to confirm that you will be renting the house. It hasn't been an easy ride for us as the rent is less than the mortgage payments now, but we have another 18 months to go before we have to make a decision as to what to do next. Quote Link to comment Share on other sites More sharing options...
bwatt99 Posted January 21, 2013 Share Posted January 21, 2013 This really does suck my mortgage was with leeds some years back which halifax took over Halifax forced us to take a mortgage at a higher interest rate, and charged GBP1500 for the pleasure. Also, if you call Halifax and enquire about Consent to Lease, and then do not get back to them with an answer, they will assume that you are proceeding anyway and send you a letter around 6 weeks later asking you to confirm that you will be renting the house. It hasn't been an easy ride for us as the rent is less than the mortgage payments now, but we have another 18 months to go before we have to make a decision as to what to do next. This really sucks my mortage was with leeds took over by halifax but im probably under halifax terms and conditions as its been them for years,as im a little late in putting my house on the market i was looking to rent saying that the couple who own a shop below me said when i sell let them know before it goes in the market,i have not talked with them yet dont know If they still want and i dont even know the value,is if was a goer i might do just that.but i feel trying to sell now with going away end if may is slim not only that it could lie empty for long enough when up for sale,my plan was to rent had no clue you needed to tell loan provider and to get a higher rate charged and to be asked to pay a fee is just a joke.im probably 6 years from it being paid off as well and would they still demand this?j was hoping to if not sold rent my rent covers the payments and was hoping a little left over for when we are in oz,but with maybe getting a higher interest and charged a fee is so crap and do i not pay goverment tax on what i earn on it and does oz not tax you also seems pointless really renting or am i missing something here.just wish i had that extra money to pay the house off well i do but its money i want to take to oz with me we move to oz,i just dont know whats best Quote Link to comment Share on other sites More sharing options...
bwatt99 Posted January 25, 2013 Share Posted January 25, 2013 so is there any banks who dont want to charge you a large fee or ask for a high interest fee for renting your home,or are they all at it,if i decide to sell my house then i will have a few options not tell them,if this is wise i dong know,i just see this as them wanting more money from you,when your still making the payments why would this be an issue?the other option is to tell them and pay the fee they will want who are halifax and the higher interest rate or what if i moved my mortgage to another bank but is there any point are they all doing this? If i dont end up selling my house in the short time i have then renting will be my nect option and its what i do next Quote Link to comment Share on other sites More sharing options...
northshorepom Posted January 25, 2013 Share Posted January 25, 2013 so is there any banks who dont want to charge you a large fee or ask for a high interest fee for renting your home,or are they all at it,if i decide to sell my house then i will have a few options not tell them,if this is wise i dong know,i just see this as them wanting more money from you,when your still making the payments why would this be an issue? Because it alters the risk profile on the basis of which they gave you the loan, and alters the potential future value of an asset in which they have an interest. Plus in some cases, because they can the other option is to tell them and pay the fee they will want who are halifax and the higher interest rate or what if i moved my mortgage to another bank but is there any point are they all doing this?If i dont end up selling my house in the short time i have then renting will be my nect option and its what i do next See through the rest of this thread - there are quite a few lenders who provide consent to let without putting you on a BtL mortgage. Also note that lenders may not have a "one size fits all" policy, if you are close to paying the mortgage off and therefore have a low LTV ratio then you are in a better place because the risk involved in the change is much less for the lender. Also note that if your mortgage was originally with someone else who HBOS subsequently acquired, you may NOT be on standard Halifax Ts & Cs - your old Ts and Cs might just be carrying on. You can't guess - you have to ask Finally, if Halifax do try and rip you off and you want to remortgage with someone else, check and double check all small print and be very careful. Depending on the timing of when you're planning to go, if you remortgaged and told the lender you wanted the loan for your main family home, and then two weeks later you upped sticks to Aus and rented it out, I suspect they'd take a dim view (note, a "dim view" in this context probably means you'd have broken a term in the agreement, that's why you'd need to check in advance) because regardless of their policy towards existing mortgagees, they are going to expect new borrowers who want the loan for a rental property to state that upfront and buy the correct mortgage product. There's probably something in the application form for a mortgage that asks if this is your main home and you intend to live in it permanently, I can't remember, it's been a while since I applied for one Quote Link to comment Share on other sites More sharing options...
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