What is Consent to Let Mortgage?
A Consent to Let mortgage is a type of mortgage that allows homeowners who find themselves in unique circumstances, to rent out their primary home for a specified period, while still maintaining their mortgage agreement with the lender. It is often used by UK Expats and Foreign Nationals who are forced to move overseas for work or family reasons.
Consent to Let Mortgages are popular with Expats and Foreign Nationals as they enjoy similar rates and terms to those of a traditional family occupation or residential mortgage, all while retaining the flexibility to rent out their property. By choosing a Consent to Let, Mortgages UK Expats and Foreign Nationals also avoid the common pitfall of overpaying for a Buy-to-Let (BTL) mortgage, which are typically priced higher than residential mortgages.