YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Common mortgage questions answered
Questions about mortgage repayment options?
Read our mortgage repayment FAQs
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Common questions and answers for existing customers
Read our FAQs on mortgage statements
The essential guide for first time buyers
Our quick and easy guide to the mortgage basics
How we decide on your eligibility for a mortgage
Key steps and considerations when planning for home ownership
New to mortgages? We can help
Our mortgage jargon buster
Protect your home with TSB Pick and Protect home insurance
A guide to remortgaging
If you've bought a buy-to-let property there are things you need to arrange before you can rent it out. There are tenant checks and the tenancy agreement to organise, legal obligations to meet and the property management side of things to sort out too.
Tenant background checks
To reduce the possibility of you choosing bad tenants, you can do some background checks. These should include checks on:
If a letting agent's sorting this out for you, it's worth asking them what checks they're doing. If you're organising it yourself you could pay for online tenant checks through the
National Landlords Association
Gas & energy efficiency certificates
You're responsible for ensuring your property has a:
You have a legal duty to ensure your property is safe. Any electrical equipment you provide has to be safe along with electrical fittings, such as light fittings, plugs and switches.
By law you're also required to install smoke and carbon monoxide detector alarms.
If you're providing soft furnishings these must be compliant with
UK fire safety standards
When you find tenants you need to get them to sign a tenancy agreement. It's usually an assured shorthold tenancy (AST) agreement. The agreement states:
You can find government
guidance and a template for creating an assured tenancy agreement on gov.uk
Tenancy deposit or bond
When you receive a deposit from your tenants, you have to place it into one of the government-backed deposit schemes within 30 days and tell the tenants where it's held. If there's a dispute at the end of the tenancy the deposit will remain in the scheme until it's resolved.
tenancy deposit protection is available on gov.uk
Instead of a tenancy deposit, some tenants may have a bond guarantee. This is a written agreement provided by the tenant's local council stating that they'll cover the cost of damage or unpaid rent up to a specified amount.
Your property needs to be kept in good working order throughout a tenancy. If anything goes wrong it's your responsibility to get it fixed within a reasonable amount of time.
Insurance to cover the breakdown of appliances which commonly go wrong, such as the boiler or fridge is a good idea. And, if the property you're letting out is freehold, landlord building insurance to cover the structure of the building gives you added protection - it's often required by buy-to-let lenders. You should also get landlord contents insurance too, if your property is furnished.
If you're looking for finance for a rental property, take a look at the
Flexible features of your mortgage and helpful service information
Making extra payments - your options
Interest-only mortgages repayment plan advice
What happens after you apply for a TSB Mortgage
Questions about repaying your mortgage?
Read common repayment questions and answers
Information on mortgage interest, charges and calculations
If you're having trouble paying your mortgage, there are a variety of options available that may ease your situation and ultimately help to resolve the issue.
How to manage financial difficulties
If you already have a mortgage with us you may be able to take your deal with you.
How we can help you keep your deal when buying a new home
Remortgaging to us? We may be able to help with your standard legal work costs.
Information on legal work and conveyancing
Global PATRIOT Act information
Understand account fees, valuations fees and repayment charges
Tariff of mortgage charges
Variable rates are the normal interest rates that we charge for our mortgages when your fixed or tracker rate deal comes to an end.
Understand variable mortgage rates
Need to make changes to your mortgage?
Understand if there might be charges
The latest Bank of England Base Rate
Fixed-rate funds are limited and these mortgage deals can be withdrawn at any time.
Please check the date the rate is fixed until as, depending on when your new loan starts, it may not be exactly 4 years - it may be slightly more or slightly less.
At the end of your fixed-rate period, the rate on your loan will switch to the
Homeowner Variable Rate
, which at that time, could be higher or lower than the rate you will have been paying and may vary over the remaining term of your mortgage.
Please be aware that we require signed documentation to be returned and processed by the 23rd of each month. Any news applciations from the 20th onwards will have their documents sent from the 1st of the following month.
APRC stands for Annual Percentage Rate of Charge and takes into account all the costs of a loan - giving you the overall cost for comparison. An APRC is calculated in a standard way to allow you to compare different mortgage offers, including those from other lenders. The APRC includes important factors such as:
It is important to remember that these APRCs are calculated using average figures so each individual loan will have slightly different APRC. The actual APRC that will apply to your mortgage will be calculated when you get a personalised quote.
TSB Bank plc. Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH
TSB mortgages are only available in Sterling for the purchase and remortgage of property, raising capital and carrying out home improvements or repairs within the United Kingdom of Great Britain and Northern Ireland . Our mortgages are secured by way of legal mortgage or, if the property is located in Scotland, by way of standard security against the property you purchase or borrow against. TSB mortgages can be made available up to a maximum term of 40 years.. We can also work out a minimum affordable term for you based on a repayment mortgage.
An assessment of your property's market value is needed if you are taking out a mortgage with us. We will choose a professional valuation surveyor to value your property for which a fee may be payable by you. This is separate from any additional valuation or survey that you may want to pay for and the approach to surveys may vary in different parts of the UK, for example in Scotland we may rely on the Home Report.
We have a range of fixed-rate and tracker (variable-rate) mortgages. For details, click
You will need to make repayments every month. The number and amount of each repayment will be shown within your mortgage offer. There are standard charges for setting up and running your mortgage, which will also be shown in your mortgage offer. You may incur additional costs, for example if you do not keep up with repayments, make an early repayment or you ask for additional borrowing or new services. We'll always tell you of any charge in advance. To see the TSB tariff of mortgage charges, click
You must pay everything you owe by the end of your mortgage term. This includes having to repay your loan, pay any costs and charges that become due and typically pay interest on all of them. In certain circumstances, for example because of the way we calculate monthly payments to four decimal places and then round the payments to the nearest penny, compliance with the terms and conditions of your mortgage does not ensure that you will pay everything you owe and we may change your monthly payments to ensure that you do so.
You must make sure there is suitable buildings insurance in place as long as you have this mortgage. However, you are not obliged to buy this insurance from TSB . If you do not have suitable buildings insurance, you will be breaking the mortgage agreement and we may take legal or other action and you will have to pay the costs of that. If you fail to pay these costs it may lead to you losing your property .
Get an indication of how much your mortgage repayments will be.
Many people forget about the extra costs associated with moving.
View our interactive cost of moving home infographic below to find out the true cost of moving home.
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