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Need professional advice for your consent to let with Pepper Money (PUK)? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Pepper Money (UK) consent to let: Q and A’s
- I am purchasing a garden flat in Westminster. My plan is to reside there for a year, and then move into a bigger flat. As opposed to selling the first flat my preference would be to let it out so that it form part of an investment portfolio. Do you know if Pepper Money (UK) would grant consent to let after half a year?
- At present I have a residential mortgage with Pepper Money (UK). My company has offered me a property as part of my job and want to rent out my existing house. My financial advisor seems confident that it is a formality. Are you able to provide me with some information please?
- I moved out of my flat about 4 months ago but didn't get around to get a consent to let letter, partly because the mortgage fix rate period is ending in a couple of months and I am considering getting a new mortgage anyway. I want to ask for consent now, is that going to be a problem?
- I am seeking some feedback as to whether consent to let from Pepper Money (UK) is the correct approach. I acquired my property seven months ago by porting a Pepper Money (UK) mortgage product. My fixed rate finished five months ago I'm thinking about moving in with a new partner. I don't want to sell my house yet as I have no idea as to whether the new move will work out. Would it be likely that Pepper Money (UK) would grant a consent to let based on me letting out my property on a short hold tenancy for 1-2 years and then I either commit to a buy to let product or sell it?
- I am considering renting my house will Pepper Money (UK) invoice me for a consent to let letter?
- Just wanted to know what needs to be provided to Pepper Money (UK) in order to get consent to let? I just finished a three year fixed mortgage and potentially moving to another property with my partner.
- Six weeks ago I purchased my flat and took out a mortgage with Pepper Money (UK) but my boyfriend has asked me to move in with him. Would I be allowed consent to let?
- Me and my partner am looking into the option of renting out my house with consent to let from Pepper Money (UK) whist away travelling for a few months
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in supplemental the above Pepper Money (UK) consent to let Info
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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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
Should the tenure of your property be 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 violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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.
If you do not keep up the payments on your mortgage with Pepper Money (UK) your property may be repossessed