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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.

Pepper Money consent to let: Q and A’s

  • I have had consent to let by Pepper Money for a while now yet they now want to speak with me and I suspect their motive will be to get rid of me. Do you have any ideas on what I can do next?
  • I was planning to call Pepper Money to ask if they have a Consent to Let application they can send me to complete.. However,I thought I would explore online. I was wondering if if you could direct me to a site where I could download this form on the web?
  • I may have the chance to go and work abroad in a couple of years. I am therefore considering scaling down to a newbuild flat in Redbridge which I could rent out more easily when the time comes. The intention is to retain 50% equity in the new property which would be my home for a while. My existing mortgage provider limits consent to let for 12 months. I anticipate renting it out longer term and not having consent could result in a whole host of problems. BTL seems unnecessarily expensive given that I will be living there, perhaps for 2-3 years initially. What product do I ask for, and from which lender? Do lenders such as Pepper Money give consent to let for an open ended period?
  • 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 attempted to sell the flat, but prices were deflated, which meant I was in negative equity. This was a couple of years ago in 2012, the value has increased and has allowed me time to accumulate savings. I am in now in a position where I can now convert 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 am aware that I shouldn’t have done this, but circumstances backed me into a corner. Any help will be greatly appreciated?
  • I have a Pepper Money mortgage currently and may want to let it out for a short period of time with consent from Pepper Money for (1 year). Is this possible?
  • What are the circumstances under which Pepper Money would decline a consent to let application?
  • Will Pepper Money choose to exercise a right to switch the rates on a homeowner mortgage where Consent to Let at any time, onto ‘rates equivalent to their B2L range'? Is it possible to refinance on a consent to let with Pepper Money?
  • Is consent to let a less costly way of renting out your property? Isn't this a loophole for some people to exploit?