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.
Sample questions relating to Pepper Money consent to let
- I have a colleague who is considering leasing their property out and moving in with partner. She has a house in Camden and has a £95k home loan with Pepper Money. What would she need to do to get consent to let if she decides to move forward.
- If I decided to let out my three bedroom second floor purpose built flat with consent to let from Pepper Money, what evidence would be required of the letting? If after 1 year I decided to let it on a number of short term rental, am I still required to provide proof to Pepper Money, or will they leave me alone provided i keep up with the payments? E.G. if I rent the rooms out separately at a later stage, is there any reason for Pepper Money to be informed and would they take issue?
- Resulting from a redundancy we are looking to move away from Merton and our house, potentially to a job in Amsterdam but that means we will want to let the property but don't want the cancellation fees of existing Pepper Money mortgage which will be high.Can Pepper Money refuse to grant us consent to let?
- I have found myself in the accidental landlord situation and without consent to let from Pepper Money. I had to leave my flat for work reasons, so am now based in another part of the country. At first I tried to sell the flat, but prices were depressed, resulting in negative equity. This was four 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 appreciate that I shouldn’t have done this, but circumstances left me with limited options. Can I change to a BTL without Pepper Money knowing what I’ve done?
- I am looking to Pepper Money to grant consent to let out my studio flat in Lambeth. I am moving to Germany for 5 months on a secondment.
- I am looking at some alternative lifestyle. I have a Pepper Money mortgage, if I become a Australian resident but wish to rent my UK house, do I need to get consent to let from Pepper Money to do this ?
- Do Pepper Money grant consent to let? I am just considering this as an option if I move home in the the near future
- Not sure if you can help What do I need to do to get consent to let from Pepper Money? And what are the charges?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Pepper Money 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 inform 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 to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of 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 taking legal action against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Pepper Money