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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.
Frequently asked questions relating to Pepper Money (UK) consent to lease
- Please can you providing me some more detail on the consent to let process. I am thinking about taking a Pepper Money (UK) mortgage on a £140,000 house in twelve months time. The intention is to hold the house as a second home but I would like to consider what options are open to me to let the property in the future. If our circumstances were to change the property would either be sold or let out.
- I have a mortgage with Pepper Money (UK) on a property and I am intending to find a tenant for it out and rent an alternative house due to changes in personal circumstances - I want to move to a new location, and to live in a bigger house with my partner. I applied for consent to let and recently got reply with a refusal as they determined that I want to invest. I as at a loss as to what to do now. The process has put me at risk since I am already committed to the new home and would have to pay both the Pepper Money (UK) mortgage and rent payments, which could put me in financial risk. The matter needs to be resolved soon as a potential tenant waiting in the wings
- I would like to let my current house and want to acquire a bigger house for the family. I have a fixed rate mortgage with Pepper Money (UK). Provided I get the consent to let as I understand banks are more than likely to push me towards getting BTL mortgage when the fixed term is finished. Could I remortgage after a couple of years with an alternative lender? Will it have to be buy to let mortgage and not a homeowner mortgage?
- Please explain "consent to let" to me? I live in a studio apartment and its in good condition. It is on the market and I have had very few viewings. This is because my neighbour is noisey. I was obliged to mention this on the disclosure form. I am with Pepper Money (UK) on a fixed rate. It has been suggested to me that I should get consent to let via Pepper Money (UK) and lease the property for a year or two.
- My work commitments are changing and this could result in mebe in different locations every month and as a result I wanted to understand the procedure for getting consent to let with Pepper Money (UK)
- Last month I bought a apartment using a Pepper Money (UK) mortgage. However I am presently living with parents. I don't want to move in until for eight months due to some family reasons. In meantime can I rent out the property with consent to let?
- I am considering relocating with work and would need to rent my property out. I have a mortgage with Pepper Money (UK). My property is worth approx £250k and owe £57k on it. Do you think Pepper Money (UK) increase my interest rate?
- Do you have the address to which a Consent to Let request to be sent for Pepper Money (UK)? Sorry about bothering you with this query.
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Pepper Money (UK) consent to let Advice
Tax and Legal
There are numerous potential 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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action 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)