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
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Bottom line - if worst comes to the worst what action Pepper Money can take if I have Sublet my flat without consent to let?
- I previously got consent to let from Pepper Money in 2012 but never used it and subsequently refinanced with another mortgage provider. I recently asked for consent to let. I was informed that it would be given since I met the criteria. I have now received a letter informing me that I need to supply a letter from the DWP evidencing that that are aware of my current situation before they can issue consent. They said this is policy but I have not been able to find these T&Cs on their site. I did complain about the inference that I might intend to continue to claim help with interest from the DWP whilst receiving rental on the property. They apologised and offered to deposit £35 in my account . However i still am unable to locate this term and condition and i feel this is otherwise inappropriate I want to let my property as a way of releasing me from redress to social benefits not in order to discontinue claiming
- My flat has a mortgage against it with Pepper Money and I have been renting my flat omitting to get consent to let, making me in contravention of my mortgage contract. They may have suspicions that I am not residing there. Is my only option is to sell the flat before repossession?
- Ever since 2014 I have had a Pepper Money mortgage with my twin and want to move on and get a new mortgage with my partner. How do I go about letting out my room? Is consent to let required via Pepper Money? My twin will remain in the apartment
- I am looking for information on the requirements that Pepper Money set for consent to let? Can you assist?
- Due to career opportunities I will be relocating to Belfast and would like to rent the flat temporarily, are you able to confirm what action I need to take in order to achieve consent to let from Pepper Money?
- I would be interested to know whether Pepper Money would have an internal record as to whether consent to let was granted for a specific property?
- I want to take in lodgers for my maisonette in Greenwich which I live in. My mortgage is with Pepper Money. How do I go about getting a consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Pepper Money consent to let Info
Tax and Legal
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.
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 invalid. 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 obtain the consent of the freeholder. If such terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them taking legal action 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