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.
Examples of recent questions relating to Topaz Finance consent to let
- I am planning to email my lender Topaz Finance justifying the following reasoning for my request for consent to let ; "I am having difficulties with the mortgage and want to move back with my parents but can't sell. I am very concerned by failing to make payments and have considered giving over the keys. If you issued consent to let this will likely solve things." Is this likely to result in a positive response?
- Under what conditions will consent to let for a property be given from Topaz Finance? How long do you have to have had ownership of the property before consent to let can be granted by Topaz Finance? In order to give you some context we are going abroad for 20 months with my husband's business and will need to rent our property. I would be interested in getting a consent to let initially in order to renting the property out to cover the costs of the Topaz Finance mortgage.
- I'm just looking here for a my brother as he’s at work who has a mortgage with Topaz Finance. He wanted to find out if there is a charge for granting consent to let? He has been offered a job overseas and wishes to rent out his home in the interim.
- I may have the chance to go and work abroad in a couple of years. I am therefore thinking of scaling down to a newer property in Wandsworth which I could rent out more easily when the time comes. I would aim to retain half the equity in the new flat which would be my home for a while. My current mortgage co will only provide consent to let for a year. I suspect renting it out longer term and not informing them could result in a whole heap of trouble. BTL seems unnecessarily expensive given that I will be living there, maybe for 2-3 years initially. What product should I be seeking, and from whom? Would, for example, Topaz Finance give consent to let for a longer period?
- I would be interested to know what information I should include in a letter seeking consent to let my house in Bromley? I would like to send a request to my mortgage provider Topaz Finance.
- We would like to move home and have found a property we wish to purchase so are considering letting out with consent to let from Topaz Finance for our original property to enable us to place an offer and not miss out on the potential new property.
- Last month purchased my property 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?
- Please can you provide me with advice as to how to proceed with obtaining consent to let from Topaz Finance and what, if any, cost I face.
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Topaz Finance consent to let Advice
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 Topaz Finance 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 lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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