answered 3 years ago
Lenders do normally allow people to rent out their property, and will supply a letter confirming their permission for you to do so. However, their permission is not a foregone conclusion; a residential mortgage offer is provided with the condition that the property will not be let out. If you let it out without the permission of the lender, you will be breaking the contract, and (see my answer to your other question) all bets will be off. If you have lived in the property for some time and have kept up your loan payments properly, then you are more likely to succeed than if the mortgage is a new one, because the lender could well consider that you have being deliberately manipulating the system. I personally have no recent experience of anyone doing this with C&G, but can contact them on your behalf if you like and can find out what their criteria are, or perhaps some of the other contributors to the site can throw more light on this.
A very important point is to check with your house insurance whether you are covered to rent it out - you probably are not, so do address this point.
By the way, your other question says that you have a large house with at least £100k of equity, and this question gives an LTV of 95%. Assuming that we are talking about the same property, and both statements are correct, you have a house worth £2m with a mortgage of £1.9m. Hmm.