Consent to Let, Tied Accommodation
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially allow applicants that are in tied accommodation to take a residential product and give the applicant permission to Let the property whilst they remain in the tied accommodation. For example an applicant who is moving into or currently in tied accommodation linked to their employment (e.g. boarding school teacher, vicar/minster, estate worker, army barracks etc) and will remain in this situation until their job ceases at some point in the future. They'd like to purchase a property that they intend to live in at a later date but would like to Let the property whilst they remain in tied accommodation.
Policy Notes:
The Society may be prepared to allow residential mortgage customers to rent out their current or a newly purchased property as a buy-to-let property under a consent-to-let arrangement under the following circumstances (this is not an exhaustive list): ·
- Customer is currently in or moving to tied accommodation linked to their employment (e.g. boarding school teacher, vicar/minster, estate worker, army barracks etc.) The customer may not take occupation of the property until their current employment ceases which may be many years in the future.
- Customer is a member of the Armed Forces currently serving elsewhere in the UK or overseas and property has previously been used as or is intended to be their main residence in the future
- general
- Policy
Last updated:
29 August 2018