Need Help?
Need professional advice for your consent to let with Pepper Money (PUK)? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Common questions relating to Pepper Money (UK) consent to lease
- I own a garden flat but I am rarely there, exploring the possibility of renting it out. The mortgage is with Pepper Money (UK), would I have to move onto a new mortgage rate or do I try to get consent to let?
- I was just seeking advice on whether I will be allowed to switch a residential mortgage with Pepper Money (UK) to a consent to let. It will be less than 70% ltv and it would change from capital and interest repayment to an interest only mortgage?
- I applied for consent but was refused as I did a remortgage in May but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some additional criteria that will not be ok. As a backup plan I can remortgage with Pepper Money (UK) but will they give me consent straight away?
- My fiance and I might have to let out her apartment, and I have a question regarding getting consent to do so. I know I need to inform Pepper Money (UK) and get a consent to let or move to a BTL mortgage. But the property is leasehold, so do we need consent to let from the management company?
- I have a mortgage with Pepper Money (UK) on a three year fixed rate. I may have chance of a teaching job overseas next year. Would I be eligible for consent to let by Pepper Money (UK) if I took this job overseas?
- I am endeavouring to find out which mortgage providers are best for allowing consent-to-let without raising rates, and hopefully permitting in excess of 2 years if necessary. Is that something you can help with? We are particularly interested in Pepper Money (UK)
- Last month bought my home and took out a mortgage with Pepper Money (UK) but my boyfriend has asked me to move in with him. Would I be granted consent to let?
- I have a mortgage with Pepper Money (UK) but would like to rent my house out and move in with my partner and baby what would I have to do to get consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Pepper Money (UK) consent to let Advice
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
If 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 notify them may result in your insurance becoming invalid. 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 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 breach 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 Money (UK) your property may be repossessed