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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.
Pepper Money (UK) consent to let: Q and A’s
- My query does not relate to consent to let, I was wondering if you have an contact details for a dedicated Pepper Money (UK) team who deal with consent to let applications. Pepper Money (UK) has a mortgage over my property.
- I have just been on the phone to Pepper Money (UK) who have advised me that they have figured out that I am letting out the garden flat despite having a normal mortgage. I moved out two years ago for career reasons, couldn't sell and was left with little choice to let out the property. Are you able to advise me on the connotations will be for me not getting consent to let?
- I acknowledge that I have been extremely naive in failing to inform Pepper Money (UK) that I’m letting my house out. Ideally I would like to do the right thing with as little adverse implication as possible. If Pepper Money (UK) says yes, is there any way of them learning that I’ve already been renting it without consent?
- In a situation where a property owner chooses to let out their property without consent to let by Pepper Money (UK) - what, if any implication might there be for an agent acting on their behalf?
- I am looking to get consent to let on my Haringey maisonette from Pepper Money (UK). I will be going abroad for a period of time and so want to know if I can rent out my flat
- Where I have an existing standard mortgage with Pepper Money (UK) and am planning to rent it out in the future will I be granted consent to let? What is the process and charges involved?
- I recently purchased a property with 10% deposit for personal uses. A homeloan was taken with Pepper Money (UK). But my circumstances have now changed. I am being transferred out of the area. Am I able to obtain consent to let from Pepper Money (UK) and put the house up for rent?
- I was wondering if you are able to assist. I require consent to let from Pepper Money (UK) and would like to know if this option would be possible for me to switch to as I have to move back home to look after my mum
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 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
One thing to remember when arranging a consent to let mortgage with Pepper Money (UK) is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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
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 terms are not adhered to you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise 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 (UK)