We offer two options (this excludes Lodgers):
Short-Term Letting: Clients with residential mortgages can use approved short-term letting platforms without needing our permission, as long as they meet these conditions:
- They must use a short-term occupancy platform from our approved list (Airbnb)
- They should have a license agreement, not a tenancy agreement
- The property can't be occupied by others for more than 90 days in a year, or for longer than 30 consecutive days by anyone other than the owner
- Their buildings insurance must remain valid
- They must follow local rules and regulations
Consent to Let: customers can apply for permission to let if they plan to move away temporarily and rent out the property. They must meet these conditions:
- Their mortgage account must be up to date, with no late payments in the last six months.
- They must use an accepted tenancy agreement (like an assured shorthold tenancy).
- They can't have multiple tenancy agreements.
- If we grant permission, there will be some new mortgage conditions.
- They can't borrow more against the property unless it's for property improvements or repairs.
- They must inform their insurance provider about the mortgage change.
Clients should contact us directly for rate changes or other mortgage adjustments while they have "permission to let."
Please do not submit applications of this nature on the customer’s behalf, they will need to get in contact directly with us and request a Consent to Let form