Need Help?
Need professional advice for your consent to let with Pepper Money? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Pepper Money consent to let
- I have a Pepper Money mortgage and have been letting out my apartment without consent to let, making me in contravention of my mortgage conditions. They may have suspicions that I am not residing there. What negotiating options do I have if I fail to sell it before they are on notice that I am in contravention of my Ts and C’s?
- I have rented out my studio flat in Sutton for the past two years, and I didn't realise that I had to get consent to let. I would like to do things properly. Would this be an issue?
- My fiance and I are planning to use equity in my existing house to purchase another property which I propose to live in whilst I refurbish. I would like to rent my first property with the Pepper Money homeloan. I was just seeking a general view on whether Pepper Money currently allows consent to let? House is worth £350 k with a £150k mortgage in place.
- My husband is in the army and he has been posted overseas and as we want to move as a family we need 'Consent to let' from our lender Pepper Money. Can you help me?
- I'd like to know if on the balance of probabilities Pepper Money will grant consent to let out our house in Bexley
- Would I be able to remortgage to Pepper Money from my existing lender, with a consent to let or do I need a let to buy mortgage, and if so what are the LTV's?
- Is there leeway in the accepted equity amount before transferring from an existing Pepper Money mortgage to a consent to let?
- I have a mortgage with Pepper Money. I am considering moving out and leasing out my house. Am I required to obtain consent to let ?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Pepper Money consent to let Advice
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
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 terms are not adhered to you may be in violation 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 commencing legal proceedings against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Pepper Money