Updating post from Reddit.
Hi, completely new to this field.
We bought our house 5 years ago, paying mortgage. After 11 years in the UK, looking to move back home (EU country), so have been offered to choose consent to let. Are there any other options available?
Yes - your normal mortgage would prohibit you from renting out the property.
So you either have to remortgage the property onto a buy-to-let mortgage or get consent-to-let from your current mortgage lender. It is expected that after your initial term comes to an end you remortgage onto a normal BTL mortgage.
Consent-to-Let is a temporoarary stop-gap.
You also have the option to sell the property, which may be a better route. Managing BTL Properties from a distance is hard and costly. Getting finance or insurance can be a real headache - especialy as a foreign national.
Consent to let is a temporary solution typically, the other option is a dedicated BTL mortgage.
Keep a very close eye on the agent you choose, they're known to charge for things like forwarding tax money to HMRC and these fees can be high.