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.
Frequently asked questions relating to TSB consent to lease
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Can TSB activate a right to put a loading on my interest rate on a homeowner mortgage where Consent to Let at any time, onto ‘rates akin to their Buy to Let products'?
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Can you clarify if consent to let compulsory from TSB or can I let my garden flat without telling TSB and being forced to convert to a buy-to-let loan?
- I have a one bed flat but I am rarely there, exploring the option of renting it out. The mortgage is with TSB, would I have to convert my mortgage rate or should I apply for consent to let?
- Me and my partner hope to buy a property together. Plan is for me to get consent to let my flat from TSB. Thinking about the future - when my 2 year fixed period expires - how would it work if I wanted to remortgage then?
- We are having to move to the US for eighteen months for my job but I don't want to switch the mortgage to BTL as the intention is to reoccupy it when I return. Do you know if TSB charges additional interest? Is there any work around?
- I am trying to find out if TSB will grant consent to let in a situation where we need to move closer to relatives in a different house albeit that we may move back the future if circumstances change.
- Last month purchased my flat and took out a mortgage with TSB but my boyfriend has asked me to move in with him. Would I be allowed consent to let?
- I am looking into the option of letting out my apartment with consent to let from TSB whist away travelling for six months
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above TSB consent to let Advice
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with TSB