Need Help?
Need professional advice for your consent to let with Pepper Homeloans? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Need professional advice for your consent to let with Pepper Homeloans? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
My husband and I bought a house in 2011 for 305,000 with Pepper Homeloans. I got married to someone in the forces so moved in to married quarters in Belgium and realise that I need to have to get consent to let from Pepper Homeloans. Do you have any experience of consent to lease from Pepper Homeloans?
There are numerous potential tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
One thing to remember when arranging a consent to let mortgage with Pepper Homeloans is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to record their consent in writing.