Can I let my property?

If you want to let your property, instead of living in the property, you’ll need to get permission from us first before letting.

What fees and charges will I need to pay?

We no longer charge a fee for letting your property out. But it's good to remember that we will add an additional 1% to your current interest rate, after you've been letting out your property for 6 months. 

Applying for permission to let your property 

If you'd like to let out your property, you'll need to get permission first, by filling out a Permission to Let form.

If you’ve cancelled a lettings agreement with us in the last 6 months, we’ll treat this application as an extension of your previous arrangement, unless you can provide us with proof that you’ve lived in the property. This means you’ll pay the additional lettings rate for the month(s) between your old agreement ending and the new agreement starting.

We’ll give you reasonable notice of any change to the additional letting interest rate and let you know about any changes by changing our Tariff of Charges.

Tax relief changes for landlords

If you’re currently letting out a property with a mortgage - or thinking about doing this - there’s an important income tax change coming in 2017 which you need to be aware of.
Please note, this change applies to residential lettings only; different tax rules apply for commercial and furnished holiday lets.

In the 2016/17 tax year, when calculating your taxable income you can continue to deduct most costs from rental income. Allowable costs include mortgage interest, but exclude capital costs such as improvements and any capital repayment element of your mortgage payments.
This is changing from 6 April 2017. The new rules take full effect from 6 April 2020, but from 6 April 2017 the changes will be phased in by 25% a year until 2020/21 with a mix of the old and new rules used when calculating your taxable income and tax liability.

Under the new rules, you can no longer deduct finance costs (such as mortgage interest, mortgage arrangement fees, interest on loans to purchase furnishings) from rental income when calculating your taxable income. Instead, you'll get the basic rate (currently 20%) deduction of these costs from your tax liability.

This may mean some of your income moves into a higher tax band, as your taxable income could increase. Further information on these upcoming changes can be found on GOV.UK.

No information on this site should be taken as tax advice. For advice you should consult with an independent tax adviser.

How do I apply to let my property?

Step 1

Decide to let your property.

Step 2

Request a 'permission to let' form by calling us on 0800 30 20 11.

Step 3

Complete and return the form to us by post, making sure all borrowers have signed it.

Find out more

Check out our FAQs for more information, or get in touch.

Contact us

Visit us in branch

If you need to speak to a member of staff, pop into any branch. Use our branch finder to find your nearest location.

Contact us

Give us a call

If you can't find what you need on this page or in the FAQs, call us on 0800 30 20 11 and we'll be happy to help.

Frequently asked questions