Consent to Let

Your home may be repossessed if you do not keep up repayments on your mortgage. If you have a Buy to Let mortgage and you fail to keep up with payments on your mortgage, a 'receiver of rent' may be appointed and/or your rental property may be repossessed. Most Buy to Let mortgages are not regulated by the FCA.

Consent to let involves obtaining permission for you to let your own residential property on a temporary basis, usually for twelve months or less.

Our Consent to Let requirements

Please read our requirements and the information you will need to provide in order for us to give our consent.

You must

  • Let the property on an acceptable Shorthold Tenancy Agreement (AST) in England and Wales, a short assured tenancy or from 1 December 2017, a private residential tenancy for Scotland, for a minimum of six months.
  • Only let the property on a temporary basis.
  • Submit the request a month before you plan on letting the property.

You must not

  • Let your property to family members.
  • Let the property as a House in Multiple Occupation (HMO).
  • Allow for the property to be sub-let.
  • Let more than 10 properties including this one.
  • Let the property in whole or part on a business tenancy.

Please note, if this is something which is going to be more permanent, we may be able to switch your product to a product from our Buy to Let range, however, you may not be able to switch back to a residential product if you change your mind and move back in to the property.

Please also speak to us if there are other changes you want to make to your mortgage at the same time as requesting consent to let, such as to change your repayment type or term.

Things you need to know

  • If your request to temporarily let your property is approved, we will apply a 1% interest rate loading to your current residential mortgage rate, which will remain in place for the duration of the letting agreement. Please read the Consent to Let form below for more information.
  • There is a £85 fee that is applicable in order to make these changes, known as the Consent to Let fee. All of our fees and charges are available to view on our Tariff of Mortgage Charges.
  • The Consent to Let fee will be applied to your account when we have confirmed we are happy to agree to you renting your property out.
  • You can get in touch to pay the Consent to Let fee, or it can remain on your mortgage account but please be aware that this will incur interest at the rate applicable at that time.
  • We can only grant Consent to Let on a mortgage held directly with Skipton Building Society, for any second mortgages please contact your lender directly for their consent.
  • We are covered by the FSCS. You may be entitled to compensation from this scheme if we can’t meet our obligations. This depends on the type of business and the circumstances of the claim. Arranging Residential Mortgages is covered up to a maximum limit of £85,000. Further information is available from the FSCS: https://www.fscs.org.uk/

How to request Consent to Let

To request our Consent to Let, simply download and complete the Consent to Let form.

Please read the form carefully before you complete it. This form contains details of our requirements for agreeing to the letting of your property. If these requirements are not complied with, you will not have our permission to let your property and the letting will be classed as unauthorised.

If there are any requirements that you do not understand or need to discuss, please contact us using the details below.

Download Consent to Let form

Return this to us by either:

  • Email on consenttolet@skipton.co.uk
  • Visting your local branch
  • Post to:
  • Customer Delivery,
    Skipton Building Society,
    Principal Office,
    The Bailey,
    Skipton,
    North Yorkshire,
    BD23 1DN.

Any questions?

Call us

Call us to pay the £85 fee or to discuss our requirements in more detail.

Your home may be repossessed if you do not keep up repayments on your mortgage. If you have a Buy to Let mortgage and you fail to keep up with payments on your mortgage, a 'receiver of rent' may be appointed and/or your rental property may be repossessed. Most Buy to Let mortgages are not regulated by the FCA.
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