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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 Lease Example Support Desk Enquires
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I have been letting out my flat with "consent to let" from Pepper Homeloans on a regular mortgage for the past two years. Pepper Homeloans have put forward an ultimatum revoking consent to let unless we move across to one of their "buy to let" products.
- I have a ground floor flat in Bexley let out which has a fifty year lease. Mortgage broker said I should remortgage (currently with Pepper Homeloans) as a buy to let instead of consent to let and release 45-55k which on top of a new mortgage based on my income would give me a budget of £200k. Limited available in Westminster for me to buy my own house. A lease extension will be in region of 21k. Lease out with consent to let or sell the flat?
- We recently sorted our rates for another fixed period with Pepper Homeloans. Subsequently, I went to an interview and basically I accepted the job offer in Barnet. I'm going to rent a one bed flat for me and my family in Bromley as we don't wish to sell the house whist there is a chance that we come back within a couple of years.... We really don't know how things will work out. We called Pepper Homeloans but we would appreciate your point of view please. Is it possible to receive consent to let in that case as we secured a fixed 5 years rate we would not want to swap this.
- I have found myself in the accidental landlord category and didnt inform Pepper Homeloans. I had to leave my flat for career purposes, so am now based in another part of the country. I originally attempted to sell the flat, but prices were low, resulting in negative equity. This was a couple of years ago in 2012, the value has increased and has given me time to save. I am in now in a position where I could convert to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Pepper Homeloans that I have been letting without consent to let? I appreciate that I shouldn’t have done this, but circumstances backed me into a corner. Have I committed a criminal offence?
- My job is now requiring mebe in different locations every month and in the circumstances I wish to understand the process for seeking consent to let with Pepper Homeloans
- Do Pepper Homeloans grant consent to let? I am just considering this as an option if I move home in the the near future
- I have a mortgage with Pepper Homeloans taken four months ago where I moved from another mortgage provider. Am I now able to rent my property with consent to let from Pepper Homeloans as I am planning to buy another property.
- We need to contact Pepper Homeloans to enquire about leasing out our apartment. Will they send an application to me. Can I not download this from the site?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting the above Pepper Homeloans 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
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
Should the tenure of your property be 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 your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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