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.
Recently asked questions relating to Pepper Money consent to lease
- I need to switch my domestic mortgage with Pepper Money to a consent to let and looking for some help... I acquired my first property in Edgware fiveyears ago. After a career opportunity I moved to Edinburgh, and four months ago got a residential joint-mortgage with my partner. I am inclined to keep with Pepper Money and seek consent to let rather than attempt to apply for a new mortgage elsewhere, but if Pepper Money refuse what lenders should I approach.
- My wife and I purchased a property ten years ago on shared ownership basis, I own 50% through mortgage and rent the other percentage. In December 2014 I purchased a new house. I let out my first property and moved to my new property. I secured consent to let from my mortgage company and I believed I had consent to let from the housing association. Yesterday I had a phone call from the housing association saying they had nothing on record indicating I had obtained consent to sublet. What do I do now?
- Me and my brother jointly own a small apartment in Wandsworth with a Pepper Money mortgage. I want to vacate and buy a new property with my fiancee. How would I deal with letting out my room? Would I require consent to let via Pepper Money. My brother will continue to reside in the apartment
- I have a home that's presently under shared ownership (My share is 50per cent) purchased in Aug 2014. I am currently going through the full purchase of the house. My partner and I have also got a further house that we are hoping to buy. Mortgage in principle has been issued by Pepper Money. I want to know that I will be able to put the current house through consent to let as soon as the remainder share has been purchased so, that we can start the process of purchasing the new home
- I was just looking into consent to let as it's something potentially I require from Pepper Money inside the next year. Our family circumstances has changed, and I would like to rent my property out
- Do Pepper Money respond positively to requests for consent to let? I am just considering this in order to move house in the coming months
- I have a mortgage with Pepper Money but am wanting to lease my house out and move in with my girlfriend and baby what would I have to do to obtain consent to let?
- I could potentially need consent to let from Pepper Money in the future with work. I am just looking to see what the options would be if this was the case. Are there any time restrictions on the length one can let out a property with consent?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in in addition to the above Pepper Money 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
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
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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
If you do not keep up the payments on your mortgage with Pepper Money your property may be repossessed