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Consent to Let

Temporarily rent out your home

On this page
What is Consent to Let?
Are you eligible?
Things to know
Get in touch
How to apply

What is Consent to Let?

There are multiple reasons why you might need to rent out your home. Understanding the difference between ‘Consent to Let’ and ‘Buy to Let’ is important to find what's right for you.

A temporary change in circumstances

Moving out of your home temporarily?

You may need to relocate to take care of a friend or relative, for work, or plan to travel. Through Consent to Let, you can apply to rent out your home on a short-term basis.

A let of your home for the long term

Renting your home for the foreseeable future?

If you have no intention of returning to live in your home, a Buy to Let mortgage may be appropriate. This process has its own eligibility criteria and application.

Are you eligible?

  1. To apply for Consent to Let, you must meet the following criteria:

    • Have an Ulster Bank residential mortgage. (If you have a NatWest residential mortgage, please visit the NatWest Consent to Let page).
    • Have the consent of all the mortgage account holders.
    • Have held your mortgage for a minimum of 6 months. 
    • Have no other properties with us on a Consent to Let. 
    • Have no arrears on your mortgage.

Things to know

Fees

  • A Consent to Let has an initial fee of £120. There is an additional annual fee of £120 to maintain Consent to Let on your mortgage.

 

However, you don't have to pay a fee if:

  • You’re a member of the British Armed Forces.
  • You’re living in tied accommodation as part of your employment.
  • You’re working abroad for the Foreign, Commonwealth and Development office.

Letting the property

  • The property must be rented using an acceptable tenancy agreement, such as an assured shorthold tenancy.
  • Only one tenancy agreement can be used for one property.
  • You must also notify your building and contents insurer as this may alter the cover.

How to apply

If you are an Ulster Bank customer and plan to rent out your residential property on a temporary basis, you'll need to request permission to do so from us as your mortgage lender.

To do this, you must contact our team.

Get in touch

Call us

Tel:

0345 300 6086

Relay UK:

18001 0345 300 6086 

Lines are open:

9am - 5pm (Mon - Fri)

Except bank holidays.

Closed (Sat and Sun)