Need Help?
Need professional advice for your consent to let with TSB plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Recently asked questions relating to TSB consent to lease
- My friend has been renting her house off the same landlord for almost one and a half years. For the last year my friend has received letters from TSB (it is apparent from the envelope). For the first coulpe she forwarded them to the landlady's address. I was a bit suspicious as none of the landlady's mail was supposed to be going there. I decided to go to my friends house and phoned TSB on her behalf. The guy I spoke to at TSB had a long list of questions, the landlady's details, the tenant's name and then said they were going to investigate whether she was entitled tolet out the house or if it was an offence in the absence of consent to let. What does this mean for my friend?
- My partner and I may need to rent out our home for a while due to a career opportunity. As we will be away for no more than twelve months would we need a consent to let our home. We already have a TSB mortgage. Is there any criteria for consent to let that the property or individual has to meet?
- I am unable to find the form to download "consent to let" on the TSB website. Could you please email me a link to do it? Thanks a lot.
- I have had a home loan with TSB for 1998. I got divorced three years ago put the property in my name by transfer of equity. My situation has changed, I would like to retain my house but move in with my new partner, leasing my house out. It has been suggested by my IFA that I can seek consent to let from TSB rather than a buy to let mortgage as I I did not buy the property with the intention of letting it out, your feedback would be appreciated?
- If I let my house out with consent to let from TSB will will theybump up the interest rate? I am currently on a standard variable rate.
- I want to let out a room in my flat in Hackney. Do I require consent to let from my mortgage provider TSB?
- I am looking for some generic information on consent to let. I currently have a mortgage in place with TSB. I have been given approval to temporarily rent out my GFF from the managing agents and they asked if I have consent to from TSB.
- We've spoken to someone at TSB about switching our existing mortgage to consent to let (the existing fixed rate comes to an end in spring next year). Can I just confirm that I need to send a letter explaining our change in circumstance to TSB? Where do I need to send the letter to?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above TSB consent to let Info
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with TSB your property may be repossessed