After having my house up for sale for nearly 2 years, I have finally decided to let it out. I've got a job up near London and the move is on. I do however, have one small problem.
I have a residential mortgage with TMB. Since they aren't taking on any new business, they won't let me switch to a BTL mortgage. Problem is I have a borderline credit score to get a new mortgage. They don't seem to have anything against me letting the property however they will not issue a 'consent to let' notice on an interest only residential mortgage product.
The next steps are a little bit tricky, I'm relocating to the other side of the country and will be paying a phenomenal amount of rent to be there. I can't afford to keep this house on as well unless it is let, but I also can't seem to sell the dam thing!!
What do we reckon money savers?