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.
Common questions relating to Pepper Money consent to lease
- I am looking to emigrate to Germany . Rather than finding a buyer, I would like to let my existing property out, just in case things turn sour and I decide to come back in one or two years. My current mortgage is with Pepper Money. Would I be able to refinance with another mortgage company on a much lower interest rate then apply for Consent to Let once the refinancing is in place?
- At the moment have a three year fixed rate mortgage with Pepper Money that we're approximately 12 months into. Our situation has now changed and we wish to rent out our flat for a year and whilst we relocate to Ealing. How do we mitigate the possibility of Pepper Money refusing to grant consent to let.
- Ever since 2013 I have had a Pepper Money mortgage with my twin and am looking to move out and get a new mortgage with my partner. How would I go about taking in a lodger? Is consent to let necessary via Pepper Money? My twin will remain in the property
- Your view would be appreciated as to whether consent to let from Pepper Money is the best approach. I purchased my house last January by porting an existing Pepper Money mortgage product. My fixed rate expired 4 months ago I'm currently considering moving in with a new partner. I would prefer not to sell my house yet because I'm unsure of whether the new move will work out. I just wanted an idea of whether a consent to let from Pepper Money would be possible?
- I am already leasing out my flat but may have been found out. I have five months left on my fixed rate. How straightforward is it to get consent to let from Pepper Money. Is it just a five minute phone call, pay the fee and it's done there and then?
- I am interested in more information in relation to consent to let mortgages, potentially switching our current mortgage with Pepper Money over to a consent to let one.
- I have fixed rate mortgage with Pepper Money. I am going have to lease out my place due to necessity. Were I to apply for consent to let, will I have to pay significantly more interest?
- My wife and I spoken to someone at Pepper Money about switching our existing mortgage to consent to let (the current 2 year fix comes to an end in spring next year). Can I just confirm that I need to send a letter explaining our change in circumstance to Pepper Money? Where do I need to post it to?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Pepper Money consent to let information
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
If 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 notify them could trigger 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 lease may prohibit 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 your covenants under the lease. This could potentially result in 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