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Need professional advice for your consent to let with Pepper Homeloans? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Pepper Homeloans consent to let: Q and A’s
- A year ago my building society (not Pepper Homeloans) gave me with consent to let. The condition was that every half year they would add a charge of 0.5% of the outstanding mortgage amount. Having the first couple of payments they have omitted to make the charge in recent months. This may be no more than a basic computer error but I am nervous that it would also mean I no longer have Consent to Let.
- Having spent twenty years in London, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to refinance with Pepper Homeloans. In Hillingdon, we are be looking at a 4 bedroom property around the £275k mark. I would preferably like to retain my existing property. Could I ask for Consent to Let from the proposed new mortgage provider Pepper Homeloans. If granted what are the likely requirements?
- We are looking to let out our ground floor flat in Bromley in Feb. I would like some guidance on what I need to do. I've just moved our Pepper Homeloans mortgage to a fixed term and just need to understand the process and what information I'll need to get consent to let.
- I have been serving in the armed forces for six years and am looking to acquire a house with a Pepper Homeloans mortgage. I would like to be given consent to let this property to my parents. In the future I plan to reside in the property with my family when I leave the armed forces. Is this feasible?
- It would be helpful to know if on the balance of probabilities Pepper Homeloans will give consent to us letting out our flat in Redbridge
- Hi my partner and I own and live in 2 separate properties can I obtain consent to let from Pepper Homeloans and let my garden flat out if I move in with her?
- My Pepper Homeloans mortgage is coming up for renewal. We would like to apply for a new fixed rate mortgage and then seek consent-to-let. Is this possible? We don't use the house much now that our kids have grown up, and would be better used as a rental.
- I was wondering if you are able to help. I require consent to let from Pepper Homeloans and would like to know if this option would be possible for me to move to as I must move back home to look after my father
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Pepper Homeloans consent to let Questions and Answers
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
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 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
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 restrictions are not strictly observed you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Pepper Homeloans