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.
Top Five Questions relating to Pepper Homeloans consent to lease
- I'm presently stuck in a rental contract until June and am buying a flat. Would my lender Pepper Homeloans have an issue with consent to let until my tenancy finishes and then moving in?
- Eighteen months ago we bought our council house, in Southwark,recently valued at £220k. It's completely paid for from our own funds, with no mortgage. We can't sell (without penalty of losing some of our discount) before five years have passed. Regardless, we want to keep it as a investment property to let out. We are considering taking out a mortgage with Pepper Homeloans. If Pepper Homeloans refuse are there lenders that will allow this and grant consent to let?
- My fixed deal expires late next year and I'm planning on fixing for a further 4 years with Pepper Homeloans, with any luck rates will still be low. In in next couple of years I may wish to move temporarily to a different city. How simple is it to get consent to let by Pepper Homeloans under these circumstances? I would be coming back after two years to live in my property.
- I have a first time buyer mortgage on a two bedroom second floor purpose built maisonette in Southwark but have rented it out without letting Pepper Homeloans know this. I now require a consent to let letter. How can I get one?
- My daughter has a mortgage with Pepper Homeloans and she wants to lease her apartment out as she moving in with her boyfriend.Will she be given consent to let? What is the procedure and charges involved?
- Last month bought a one bed flat in Croydon. I am a FTB. I am moving Glasgow next month, can I get consent to let from my lender Pepper Homeloans or do need to wait for at least 6 months?
- Last month I bought a house with 10% deposit for personal uses. A mortgage was taken with Pepper Homeloans. However my circumstances have now changed. I am being transferred overseas. Am I able to get consent to let from Pepper Homeloans and put the house up for rent?
- I am planning on relocating inside the next 6 months and wish to rent my property out. My current rate is fixed with Pepper Homeloans. I am worried a rate hike would be too much if that was a condition of obtaining consent to let
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Pepper Homeloans consent to let Questions and Answers
Tax and Legal
There may be various 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.
Insurance
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them may result in your insurance becoming null and void. 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
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Pepper Homeloans your property may be repossessed