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.
Questions and Answers: Pepper Money (UK) consent to let
- I am looking to get a consent to let from Pepper Money (UK) as my personal situation has altered. My stepdaughter was starting university and I concluded that we would move to the area and chose to buy a property rather than spend the money on renting. Since buying the house I have fallen out with my step daughter and she refuses to live there. Since the whole idea was for her and the house location is not particularly ideal for my work I would like to move out and rent out the house
- Where is the Pepper Money (UK) consent to let application on this site I am unable to find it on the web.
- We took out a fixed rate mortgage with Pepper Money (UK) for two yrs and have been living in the house for nearly one year. Due to work I need to vacate so I would like to lease the place out. What is the best way to go about getting consent to let from Pepper Money (UK)?
- Is it correct that mortgage companies (my home loan is with Pepper Money (UK)) are adopting a more lenient approach towards consent to let? A broker suggested that BTL mortgages are not regulated by the FCA whereas residential mortgages are. Therefore if I switch from a owner-occupier to a BTL I am moving to a regulated product. His belief was that under the current regulation lenders are reluctant to allow borrowers do this, which is likely why some mortgage providers will let borrowers have consent to let but not transfer to a BTL mortgage. Is he right?
- I have Pepper Money (UK) mortgage and am considering renting out the property. I understand I would need a consent to let to do this...is that true ?
- Would a prior extension to a mortgage term with Pepper Money (UK) work against us once we applied to Pepper Money (UK) for consent to let.
- I have a mortgage with Pepper Money (UK). I am considering moving out and renting out my flat. Do I need a consent to let ?
- I am enquiring as to whether there are any restrictions in getting consent to let on a leasehold property when I have a mortgage with Pepper Money (UK)
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with 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
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 notify them may trigger 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
If your property is 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 violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Pepper Money (UK)