Need Help?
Need professional advice for your consent to let with Topaz Finance plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Topaz Finance consent to let
- After 17 years in the capital, I'm considering relocating to be closer to family. We've only been homeowners for the last two years and about to refinance with Topaz Finance. In the relocation destination, we are be looking at a 4 bedroom property around the £275k mark. I would preferably like to keep hold of my existing apartment. Could I ask for Consent to Let from the proposed new lender Topaz Finance. If granted what are the likely conditions?
- I vacated my flat about 4 months ago but didn't get around to get a consent to let letter, primarily because the mortgage fix rate period is ending next month and I am thinking about a remortgage anyway. I want to ask for the letter now, is that going to be a problem?
- I have found myself in the accidental landlord scenario and didnt inform Topaz Finance. I had to leave my flat for career reasons, so am now based in another part of the country. I originally tried to sell the flat, but prices were depressed, resulting in negative equity. This was four years ago in 2012, which has since seen the property price increase and has given me time to accumulate savings. I am in now in a position where I can now transfer to a BTL mortgage and would like to remortgage at the same time. My concern is, will changing mortgage providers possibly alert Topaz Finance that I have been letting without consent to let? I appreciate that I shouldn’t have done this, but circumstances left me with limited options. Any help will be greatly appreciated?
- Require some assistance concerning renting a property and consent to let. I plan to move in with my other half. The local authority would like to rent my flat for three year commitment with rent and service charges covered. The mortgage is with Topaz Finance. Please help
- I want to apply for consent to let from my mortgage provider Topaz Finance to let out my flat. This is due to me relocating. Do Topaz Finance allow consent to let in this situation?
- Do I need consent to let if I rent to a family member (in my situation my father now lives there and contributes towards the Topaz Finance mortgage)?
- I have a granny flat attached to our house. Do we need consent to let this from Topaz Finance? If so, what is the process if I need to transfer my mortgage to consent to let?
- What happens if a borrower has already let the property for some years as an HMO and now wish to legalise the situation with Topaz Finance by obtaining consent to let ? (work on the basis that Topaz Finance had previously given a standard mortgage on it some time ago)
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Topaz Finance consent to let Info
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
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 inform them may trigger your insurance becoming null and void. 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 breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Topaz Finance