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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.
Top Five Questions relating to Topaz Finance consent to lease
- I am currently in the process of emigrating to Germany . As opposed to finding a buyer, I would prefer to rent my current property out, just in case things turn sour and I decide to come back within a couple of years. The current mortgage is with Topaz Finance. Would I be able to refinance with another mortgage company on a much lower interest rate then apply for Consent to Let after the refinancing is in place?
- I am a FTB in the process of trying to buy a flat. However I am potentially also going to be moving abroad in the near future. I have told this to my mortgage broker who has informed me as long as nothing has been signed or confirmed you can go ahead and apply for a residential mortgage with Topaz Finance. Once that's complete if it transpires that I need to move abroad he said can apply for a consent to let from Topaz Finance. Does that sound like the right advice?
- My lawyers have served eviction orders on a tenant who had not paid his rent in 3 months. A Section 21 and section 8 have been issued. The tenant's defense for refusal to pay is built on the claim that I do not have consent to let my two bedroom second floor purpose built flat from my mortgage company Topaz Finance
- I am in the Royal Navy and planning to purchase a house using a Topaz Finance mortgage. I would like to obtain consent to let the property to my mother and father in law. In years to come I would live in the property myself when I leave the Royal Navy. Will I need to apply to my Commanding Officer to request permission to rent it out?
- My wife and I wish to let out my home. Do I simply send a letter to Topaz Finance requesting consent to let out the property?
- Is it possible to refinance with Topaz Finance with consent to let if my fixed rate is about to expire. Circumstances would not have changed.
- I have just recently purchased my home and took out a mortgage with Topaz Finance but my boyfriend has asked me to move in with him. Would I be granted consent to let?
- I have a mortgage with Topaz Finance. I am thinking of moving out and renting out my flat. Am I required to obtain consent to let ?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supporting the above Topaz Finance consent to let information
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
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in 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.
If you do not keep up the payments on your mortgage with Topaz Finance your property may be repossessed