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.
TSB Consent to Lease Example Support Desk Enquires
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Just wondered if TSB exercise a right to put a loading on my interest rate on a standard mortgage where Consent to Let at any time, onto ‘rates in line with their Buy to Let range'?
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Within the next few days I intend to apply to TSB for consent to let out my house in TSB. However I currently have the property for sale but there is no interest and paying a full mortgage, council tax and insurance on an empty house is draining me financially. How are TSB going to react if I have the house on the market?
- Please explain "consent to let" to me? I live in a studio apartment and its in good condition. It is on the market and I can't find a buyer. This is probably due to an longstanding feud with the guy next door. I have had to mention this on the disclosure sheet. I am with TSB on a fixed rate. Someone mentioned I should get consent to let from TSB and lease the flat for a couple of years.
- I have found myself in the accidental landlord category and didnt inform TSB. I had to vacate my apartment for family reasons, so now live in another part of the country. At first I tried to sell the flat, but prices were deflated, resulting in negative equity. This was three years ago in 2012, the value has gone up and has allowed me time to save. I am in now in a position where I can now transfer to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert TSB that I have been letting without consent to let? I am aware that I shouldn’t have done this, but circumstances forced my hand. Any help will be greatly appreciated?
- I am require from TSB consent to let out my house in Barnet. I am planning to live with my grandfather as I am off work due to ill health.
- Do you know if TSB would have archive records as to whether consent to let was granted for a specific property?
- I hope you can help What do my wife and I need to do to obtain consent to let from TSB? And what are the charges?
- We need to contact TSB to enquire about renting out our property. Do they post an application to me. Can I not download this from the site?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in further to 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
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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