Updated October 2026
In short: if you have a residential mortgage, you need your lender's permission before renting out your home. Lenders such as Nationwide offer "consent to let" for homeowners who want to let temporarily, for example when relocating for work or when they can't sell. Consent may involve a fee or a change to your interest rate, and lasts for a set period. For longer-term letting, switching to a buy-to-let mortgage is often more suitable.
Fraser Bond is independent and isn't affiliated with Nationwide. Lenders' terms change, so always check the current criteria and costs directly with your lender.
Why you need consent
Residential mortgages are granted on the basis that you live in the property. Letting it without permission usually breaches your mortgage terms and could put your mortgage at risk. Your buildings insurance may also be invalid if it doesn't cover letting.
How consent to let usually works
- Apply to your lender, usually online or by phone, with details of the tenancy and the expected rent
- The lender considers your mortgage, payment history and the rental figures
- If approved, consent is given for a set period and may be renewable
- There may be an admin fee and, with some lenders, a higher interest rate while the property is let
Consent to let vs buy-to-let mortgage
- Consent to let suits short-to-medium-term letting where you may move back or sell later
- A buy-to-let remortgage suits long-term letting. Rates and affordability are based on rental income, and early repayment charges may apply if you switch mid-deal
Other things to sort out
- Landlord insurance instead of standard home insurance
- Safety and compliance: gas safety, electrical inspection, EPC (minimum E), smoke and carbon monoxide alarms, deposit protection, right-to-rent checks
- Licensing: some councils require a licence for all rented homes
- Tax: rental profit is taxable. Register for Self Assessment, and note that mortgage interest relief for individual landlords is limited to a basic-rate tax credit
- Leasehold flats: check whether the lease requires the freeholder's consent to let
- The 2026 rules: tenancies are now periodic and Section 21 has ended, so plan how you would regain possession if you need to move back. Specific grounds exist for this.
How Fraser Bond helps
We help homeowners become landlords smoothly, with tenant finding, compliance checks and full management, so your home is looked after while you're away.
