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.
Common questions relating to TSB consent to lease
- My fiance and I are currently 1 year into a year fixed rate mortgage with TSB. We would like to purchase a bigger 2nd property in the coming months however would like to keep the first home and I was wondering what reason we could put down on the consent to let application to get their approval
- Much to my surprise I have been offered a once in a lifetime career opportunity for 6 months in Denmark. I have enough money to cover the monthly TSB mortgage yet the buildings insurance stipulates continuous residency in order to remain valid. Last December the roof was damaged but repaired. Should there be any problems during the winter months I would find it hard to cover the remedial works. How likely is it that I will get consent to let from TSB for a limited period?
- My husband and I have a fixed mortgage with TSB (with a little under two years left) but due to redundancy want to move away from NW London (actually to a new job in Poland) and so want to rent the property out. We are keen to avoid the expense of an early redemption fee and understand that some lenders are willing to give this 'consent'...what is the approach taken by TSB?
- How long do I need to have a further advance from TSB before I can get consent to let. Can I call a member of your team to discuss my options please?
- I would like consent to let on my Merton apartment from TSB. I will be going abroad for 10-12 months and so want to know if I can rent out my flat
- So this is the scenario: I am moving abroad. This might be for many years. Nevertheless I will be on a six month test period .I'm wanting to know how to go about getting consent to let from TSB and what fees are involved
- I have a mortgage with TSB at present and just enquiring about the procedure for getting a 'consent to let'
- We took out a mortgage with TSB a few months ago and although it's still early days we may have to relocate around next July or August and would like to be able to let our property out. Is this possible with a non-commercial mortgage?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition 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
Omitting 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 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 potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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.
If you do not keep up the payments on your mortgage with TSB your property may be repossessed