Consent to let - mortgages

[babyOcho]

Does anyone know about getting an agreement with your mortgage provider for a consent to let?

We have a Birmingham Midshires mortgage and are thinking of renting the property out for a couple of years, but cannot really afford to convert to a buy to let mortgage.

The estate agent mentioned something about a content to let with the provider. Before I call BM, does anyone know anything or have any experience with this?

TIA

anyone?

We got told yesterday that we'd have to be able to get something like 125% of the mortgage amount covered by the rental (after letting agent fees) before they'd (britannia) allow it.

Was definitely more than 100%

We weren't looking to let the house so I didn't ask anymore about it. Sorry

Thanks anyway.
Anyone else?

We let out our house (though a few years ago) when we went aboard.
Just asked the lender and they consented - and charged us a fee for the privilage (renewable every 3 years).

No idea what they are like now, but they do have the charge on the property to fall back on.

Yes I think you MUST tell them otherwise your buildings insurance will not be valid.

They usually don't mind unless it's going to be a permanent thing but they do charge you an "admin" fee to get the bit of paper - my friend paid £220 to C&G for 12 months permission then you have to renew. They did not require 125% of the mortgage amount though - that sounds more like terms for a B-t-L mortgage.