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There are multiple reasons why you might need to gain our consent to temporarily rent out your home. This could include relocating to take care of a friend or relative, for work, or plan to travel. Through Consent to Let, you can apply to rent out your home on a short- term basis.
If you’re renting your home for the foreseeable future and have no plans to come back to live in your home, a Buy to Let mortgage might work for you. This process has its own eligibility criteria and application. You can find out more about this by viewing our Buy to Let page or by booking an appointment.
Your home could be repossessed if you don’t keep up your mortgage repayments.
If you have a Leeds Building Society mortgage and you’re thinking about renting out your home, you must get our consent.
If you proceed without our consent, you’ll breach your mortgage terms and conditions. Your interest rate will increase and may be higher than if you let the property with our consent.
Once you have our consent and you let your home, your interest rate may increase.
If you’re in arrears or struggling with your mortgage payments, please visit Payment and budgeting support.
Please make sure you follow these steps to ensure you stay in line with your mortgage conditions:
We’ll confirm in writing if your application is approved or not. If approved, the consent to let period on your property is temporary for up to 12 months.
If you’re no longer letting your property or you move back in, you must contact us as soon as possible on 08082 815 823 or email us at CTL@leedsbuildingsociety.co.uk. We'll also need proof, such as a council tax bill. We can then remove the increase to your interest rate and reduce your monthly payments (if applicable).
No, however your individual circumstances will be considered including an affordability check and rental information.
Depending on your circumstances, you may need to pay a one-time Consent to Let fee of £85. You can pay the fee upfront by cheque, over the phone or by bank transfer. The other option is to add it to your mortgage balance where interest will be charged on it, this will increase the amount that you owe and your monthly payments.
Changes made to your account will be made without advice from us on an execution only basis. This means that we’ve provided information about the changes and the impacts of it.
Letting out a property can be complicated, take a look at these organisations to get free and impartial advice (some organisations will differ by where your home is).
The GOV.UK website gives guidance on what goes into renting out your property and what landlord responsibilities you'd have.
If you're a residential leaseholder and you're looking for independent advice and help with your property.
If you're a landlord and need specialist rental sector advice, resources or support. Please note, this isn't a free service.
Free advice on debt management, welfare benefits, housing, employment and consumer complaints.
