Please remember, that once your property is let, you cannot:

  • switch your mortgage deal
  • take additional borrowing
  • complete a term change, add or remove a borrower.

Unless you are a member of the British Armed Forces or have a critical illness.

If you've already started letting your property

You'll need to get permission from us as soon as possible. Your mortgage terms and conditions explain that you need permission from us to let your property before the let starts and any breach on these conditions could lead to further action being taken.

Fees and charges for letting your property

We’ll add 1% to your current interest rate while you’re letting your property. We will give you reasonable notice of any change to the additional letting interest rate and let you know about any amends to the rates by changing our tariff of charges page - PDF 73KB (opens in a new window).

If you're a member of the British Armed Forces and want to let your property we won’t charge the additional letting interest rate. When you request permission to let, we’ll require proof you’re still a serving member. Please remember that you’ll need to let us know if this situation changes.

Note:

If you have one of our Lifetime or retirement mortgages for over 55s and want to let your property, please call us on 03457 30 20 10 (Monday to Friday, 8am to 6pm. Saturday 8.30am to 4pm. Closed Sundays and bank holidays.)

Information:

You should also talk to your insurance provider to find out if letting your property will affect your home insurance policy.


Paying tax on profit from renting out your property

You must pay tax on any profit you mke from renting out property.

This may mean your rent income moves you into a higher tax band, as your taxable income could increase.

To find out more about paying tax on your rented property, and how to work it out, please visit the UK Government website.

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


Get permission

To get permission, you’ll need to:

  1. Get the permission to let form by:

  2. Fill in the form

    Fill in the permission to let form.
  3. Post it to us

    Post your competed form to:
    Mortgage Servicing - Lettings
    Nationwide Building Society
    Kings Park Road
    Moulton Park
    Northampton
    NN3 6NW

Ending a letting agreement on your property

If you wish to end the letting agreement you will need to write to us at the above address with your new postal address. This is so we can update our records. Your letter must be signed by all borrowers.