Need Help?
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.
Sample questions relating to Pepper Homeloans consent to let
- We are first-time buyers, currently renting. We would ideally like to buy a garden flat in Wandsworth. We want to move there, but will need to wait for a job - perhaps 2-3 years. Would we need to seek a B2L mortgage? Would it be possible to take a domestic mortgage with Pepper Homeloans, even though we won't be moving in straight away? Or could we reside there for a short period of time , then start renting it with consent to let from Pepper Homeloans? I'm only willing to consider scenarios that are fully legal, and wouldn't breach the terms of the mortgage with Pepper Homeloans.
- The plan is to move in with my partner and I have let my property out to two students on a one year AST. I am now applying for consent to let from Pepper Homeloans but what if they refuse. I can’t renege on my contract in terms of not renting the students as they have all signed up. On the other hand Pepper Homeloans could sue me for contravention of mortgage condition i.e. letting it out in the absence of consent to let.
- In a situation where a landlord opts to lease out their property without consent to let from Pepper Homeloans - what, if any implication could there be for an agent acting on their behalf?
- I have an annex that my dad is planning to move out from. As the main house is large I was considering moving into the annex and lease the remainder out. This is also due to change in my personal situation. Would I require consent to let from Pepper Homeloans?
- It would be helpful to know if on the balance of probabilities Pepper Homeloans will grant consent to let out our flat in Haringey
- I have a homeowner mortgage with Pepper Homeloans and my circumstances have changed due to family, can I obtain consent to let. What changes will affect me?
- I am trying to find out Pepper Homeloans fees for conversion to consent to let from a fixed rate residential mortgage?
- Does my LTV need to be at a certain ratio to allow me to apply for a consent to let from my mortgage provider Pepper Homeloans. Will any consideration be given to the fact that I only drew down on the mortgage four months ago?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Pepper Homeloans consent to let Info
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
One thing to remember when arranging a consent to let mortgage with Pepper Homeloans is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform 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 Homeloans your property may be repossessed