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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.

Questions and Answers: Pepper Money consent to let

  • Just wondered if Pepper Money exercise a right to change the rates on a residential mortgage that has just been approved for Consent to Let at any time, onto ‘rates in line with their BTL products'?

  • We are FTBs, presently renting. We would ideally like to purchase a maisonette in Tower Hamlets. We want to move there, but will need to wait for a job - perhaps 2-3 years. Do we need to seek a B2L mortgage? Would it be possible to take a residential mortgage with Pepper Money, because we intend to move there soon? Or could we move there for a few of months, then start renting it with consent to let from Pepper Money? I'm only willing to consider scenarios that are fully legitimate, and wouldn't breach the provisions of the Pepper Money mortgage.
  • Much to my surprise I have been offered a once in a lifetime career opportunity for 9 months in New York. I do have sufficient cash reserves to cover the monthly Pepper Money mortgage yet the buildings insurance requires that the property must be occupied in order to remain valid. Last Christmas the roof was damaged but repaired. Should there be any problems in the winter months I would struggle to cover the repair costs. Would I be eligible for consent to let from Pepper Money for the time I am overseas?
  • I have found myself in the accidental landlord category and failed to inform Pepper Money. I had to vacate my property for family reasons, so am now based in another part of the country. At first I tried to sell the flat, but prices were low, resulting in negative equity. This was four years ago in 2012, which has since seen the property price increase and has allowed me time to save. I am in now in a position where I can now switch to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Pepper Money that I have been letting without consent to let? I appreciate that I shouldn’t have done this, but circumstances left me with limited options. Any help will be greatly appreciated?
  • When it comes to consent to let from Pepper Money am I obliged to advise them every time we get a new tenant and post them a duplicate of the lease?
  • I have a residential mortgage with Pepper Money and require consent to let. What are the factors and procedures that I need to be aware of in order to obtain consent?
  • My husband and I have a fixed rate mortgage with Pepper Money and are considering obtaining consent to let so that we can apply for a further mortgage on another property that I own on a buy to let basis. Before we apply We would be interested to know the repercussions if any of making the change and any facts that we need to consider.
  • Me and my wife took a mortgage with Pepper Money but am informed they have a policy that they will not give consent to let the property to a local authority. Is this true and if so, can you suggest a way to bypass this?