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
- Eighteen months ago we bought our council flat, in London,recently valued at £175k. It was paid for in full from our own funds, with no mortgage. We are prohibited from selling (without repaying back a significant amount of the discount) before five years have expired. Regardless, we wish to keep it as a investment property to let out. We are considering taking out a mortgage with Topaz Finance. Will consent to let be given?
- Having spent 17 years in Manchester, I'm considering relocating to be nearer to family. We've only been homeowners for the last two years and about to refinance with Topaz Finance. In Hackney, we are be looking at a 4 bedroom property around the £250k mark. I would preferably like to retain my existing apartment. Could I ask for Consent to Let from the proposed new mortgage provider Topaz Finance. If granted what are the likely conditions?
- me and my wife recently sorted our rates for another fixed period with Topaz Finance. Some weeks later, I attended an interview and basically I accepted the job offer in Waltham Forest. I'm going to rent a two bedroom flat for me and my family in Barnet as we don't wish to sell the house whist there is a possibility that we come back within a couple of years.... We really don't know how things will go. We have contacted Topaz Finance but we would appreciate your take on the situation. Is it possible to obtain consent to let in that case as we secured a fixed 5 years rate we really don't want to lose this rate.
- My property has had a mortgage against it with Topaz Finance since 2010. Since then I've married and live in my husband’s home. My property is currently vacant and have a choice to sell or let it out. Clearly this could be a long term proposition as I can't see us move back in. What should I tell Topaz Finance in order to get consent to let?
- Is there a maximum period that Topaz Finance is willing to grant me the Consent To Let for?
- We are interested in finding out more about the Topaz Finance consent to let process and conditions for granting.
- As of today I have a mortgage with Topaz Finance. I am considering renting and purchasing another property but this is all alien to me. How do I go about gaining consent to let from Topaz Finance?
- My OH and I would like to rent out my home to be nearer to my daughter's uni and take care of my mother. What do I need for the application of consent to let from Topaz Finance?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in in addition to the above Topaz Finance consent to let Questions and Answers
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 obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform 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.
If you do not keep up the payments on your mortgage with Topaz Finance your property may be repossessed