Letting out your own home: consent to let, let-to-buy and switching to buy-to-let.

The rule you must not break

A residential mortgage does not allow letting. Renting the property out without telling the lender breaches the mortgage conditions; it can invalidate your insurance and, in principle, let the lender call in the loan. Always get permission or switch the mortgage.

Option 1: consent to let

Your residential lender agrees to you letting the property for a period, typically 6 to 24 months, sometimes with a fee (£0 to £300) or a rate loading (0.5% to 1%). Quick and cheap. Suits temporary situations: a posting abroad, a trial move, a house that will not sell. Most lenders will not extend it indefinitely and some will not give it in the first year of the mortgage.

Option 2: switch to a buy-to-let mortgage

Remortgage onto a buy-to-let product, with your current lender or a new one. The property is then assessed on the rent, interest-only is available, and there is no time limit. The rent must pass the rental cover test and the loan-to-value must be 75% or lower, which for a home bought recently with a small deposit may not work yet. The sums.

If you or a close family member have lived in the property, the buy-to-let mortgage is a "consumer buy-to-let" and is regulated by the FCA, unlike most buy-to-let. It does not change the products much, but the broker must be FCA-authorised and you get more protection.

Option 3: let-to-buy

You keep the current home, switch it to a buy-to-let mortgage (often raising money against it for the deposit), and buy a new home to live in on a residential mortgage. Two applications, usually with two lenders, completing on the same day. Points to know:

• Stamp duty surcharge on the new home, because you will own two: 5 points on every band in England and NI, ADS in Scotland, higher rates in Wales. On a £350,000 home in England, £17,500 extra. It is refundable only if you sell the old home within three years, which in let-to-buy you do not intend to.
• Affordability on the new home: the residential lender needs to see the old property's mortgage covered by its rent (usually 125% or more) before ignoring it.
• Capital gains tax later: once the old home is let, private residence relief covers only the years you lived there (plus the final nine months). Keep records.
• Tax on the rent: as an individual, with the 20% interest credit rather than a deduction. Tell HMRC.

Becoming a landlord properly

Whichever route: a written tenancy, deposit protection, gas safety certificate, EICR, EPC (E minimum now, with proposals for C), smoke and CO alarms, right-to-rent checks in England, landlord registration in Scotland, Wales and Northern Ireland, and the correct licence if the council requires one. The Renters' Rights Act changed tenancies in England in 2026; read up before you let.

A note on the numbers. Rental cover ratios, stress rates, loan-to-value limits and fees are typical of the market at the time of writing (2026) and differ from lender to lender. Tax rules are for individuals and companies resident in the UK and change with each Budget. This is general information, not advice: a broker will tell you what applies to your property, and an accountant what applies to your tax.