vickyandrob

Hi, just wondered how much your mortgage lenders had charged you to 'allow' you to let out your house?

We are on a tracker and therefore on a good rate at the mo, but the abbey want £2400 to 'allow' us to let it out, and if we want to change this in the future and come back then the same fee will apply!

Someone just told me they only had to pay £100!

Thanks
Vicky

Kingseat

Royal Bank of Scotland just wanted us to complete a form and pay £100 processing fee. We then had permission to let for 2 years if we wanted.

vickyandrob

God, what a difference! We are appealing, but don't know what difference it will make.

Vicky

Kingseat

Good luck! We were fortunate. Put the house on the market and were under offer quickly which we were surprised as so no renting in the end.

Shaundawn

We are the same as Kingseat...our lenders are allowing us to let for 2 years and charge £100.

mika24me

That sounds like an awful lot. I wonder if your mortgage lender is quoting you the amount to switch to a "buy to let" mortgage product.

I have rented out houses before and never paid a fee, I merely called the provider and informed them that my home would temporarily be rented out, and they said fine.

Kingseat

I have just looked at the RNS website and they only want (I say only but in comparison to what Abbey want!) £1,999 to arrange a buy to let mortgage. I agree with the above poster. May be you have been quoted a fee for a complete new mortgage?

Kingseat

Yep. It does seem so. Have a look:

http://www.abbey.com/csgs/Satellite?...ACOM_TemplateG

vickyandrob

Thanks for that - their letter states that we do not have to change from our tracker for 2 years then we would have to change to a buy to let mortgage, yet this is the exact amount they are charging us?

Right getting OH to ring them tomorrow, trouble is they are not very helpful over the phone!

Vicky

Kingseat

That is outrageous! Most lenders allow 2-3 years as if you sell before 3 years which many people do if things work out you won't be hit with capital gains tax.

Can you speak to a mortgage expert in the brach?

kar-kier

Our wanted to charge us mega bucks to change, but putting us on a buy to let mortgage, which would be an additional £250 a month!!! Kinda not told them we are renting . . .

vickyandrob

Thought about that too, but we'll see if OH gets anywhere on the phone today, if not will go into branch and speak to someone personally.

Thanks everyone x