Need Help?
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.
Questions and Answers: Pepper Money consent to let
- My friend has let her house from the same landlord for almost one and a half years. Over the last twelve months my friend has received letters from Pepper Money (she hasn't opened them-it is clear from the envelope). At first she reposted them to her landlady's address. My suspicions were aroused as none of her landlord’s post was supposed to be going there. I therefore went to my friends house and phoned Pepper Money on her behalf. The lady I spoke to at Pepper Money had a long list of queries, the landlord’s details, the tenant's name and then said they would look into whether she could legallylet out the house or if it was an offence without consent to let. What does this mean for my friend?
- Me and my sister and I may need to lease our home out for a while due to a career opportunity. This will be for a limited period we would possibly like a consent to let our property. We presently have a Pepper Money mortgage. What are the fees involved and time limits on consent to let agreements?
- Is it possible to change a residential mortgage with Pepper Money to a consent to let. It will be less than 65% ltv and it would alter from repayment to an interest only mortgage?
- I am intent on purchasing a property, renting two of the bedrooms out to help cover the loan with Pepper Money, and then moving on in a few years time - when the property would be entirely rented. How likely is it that Pepper Money would look at this unfavourably as I will have been granted a owner-occupier homeloan rather than a B2L or consent to let? I've read that in extreme situations they can sue for mortgage fraud, is this an exaggeration?
- My husband and I are trying to discover which mortgage providers are best for giving consent-to-let without hiking up rates, and hopefully permitting in excess of 2 years where required. Is that something you can help with? We are particularly interested in Pepper Money
- My fiance and I are looking at new mortgages and also exploring the possibility of renting the property in the years to come - Is there a fee with Pepper Money to get consent to let and what are the requirements?
- I would like to find out more about how to get consent to let on a property. In particular what is the procedure for consent to let if you have a domestic mortgage with Pepper Money
- I am currently remortgaging and looking into the flexibility of certain mortgage providers when it comes to consent to let. Pepper Money is one of the mortgage companies I am thinking of going with. How accommodating are they when it comes to consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Pepper Money consent to let Questions and Answers
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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such restrictions are not strictly observed you may be in violation of your covenants under the lease. This could trigger 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.
If you do not keep up the payments on your mortgage with Pepper Money your property may be repossessed