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Consent to Let

Temporarily rent out your home

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

What is Consent to Let?

You might need to rent out your home for many reasons. It’s important to know the difference between ‘Consent to Let’ and ‘Buy to Let’ so you can choose what’s best for you.

Moving out of your home for a short time?

You may need to leave your home for a while to help a friend or family member, for work or if you plan to travel. With Consent to Let, you can apply to rent out your home for a short period.

Renting your home for the foreseeable future?

If you don’t plan to move back to your home, a Buy to Let mortgage might be right for you. This process has its own eligibility criteria and application process.

Are you eligible to apply for Consent to Let?

To apply for Consent to Let, you need to have:

  • a NatWest International residential mortgage.
  • permission from all mortgage account holders
  • held your mortgage for at least 6 months. 
  • no other properties with us on a Consent to Let. 
  • no missed payments on your mortgage.

Do I need permission to temporarily rent out my home?

Yes, if you have a residential mortgage and want to rent out your home for more than 90 days in a rolling calendar year. If this is agreed, we'll issue a letter of consent saying you can rent it out.

With a Buy to Let mortgage, you can only use Short Term Lets to cover periods when the property is not rented.

If you plan to rent out your home for less than 90 days in a rolling calendar year, you may not need to tell us if:

  • you are using a licence for renting, not a tenancy agreement.
  • you inform your insurer about the rental and obtain their approval. Your building insurance must always be valid.
  • you follow all rules and regulations for local or other relevant authorities.
  • you don’t break the rules from any support schemes, like Help to Buy or shared ownership. You may need permission from the scheme provider and any lenders involved.
  • your home is leasehold, you meet all lease conditions before starting Short Term Letting and get permission from the freeholder.

If you want to rent out your home but don't meet these conditions, please follow our Consent to Let process.

You must report any taxable income made from Short Term Lettings to HM Revenue & Customs (HMRC) or your local authority.

What fees do I need to pay?

If you want to rent out your property for more than 90 days in a rolling calendar year, but don’t have a buy-to-let mortgage, you’ll need to pay a fee for each ‘Consent to Let’ agreement. This is when we agree to let you rent your property for a certain time, even though you still have a residential mortgage.

The fees are:

  • £120 for giving consent
  • £120 every year on the same date as the agreement

You don’t have to pay a fee if you’re:

  • in the British Armed Forces
  • living in Tied Accommodation
  • working abroad for the Foreign & Commonwealth Office
Information Message

If you’re in the British Armed Forces, working abroad for the Foreign or Commonwealth Office, or living in Tied Accommodation, please contact us after your mortgage is drawn down to set up the Consent to Let.

Do I need to use a tenancy agreement when renting the property?

Yes, you need to use a tenancy agreement to rent out the property, such as an assured shorthold tenancy.  You can only use one tenancy agreement for each property.

You must tell your building and contents insurer as, renting out the property might change your insurance cover.

How to apply

If you want to rent out your property for more than 90 days in a rolling calendar year, please call our Mortgage Team.

Information Message

Lines are open Monday to Friday 9am - 5pm (except bank holidays). Calls may be recorded.

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