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
- My lawyers have served eviction orders on a tenant who had not paid rent. The relevant claims have been served. The tenant's defense for refusal to pay is based on the claim that I I failed to obtain consent to let my maisonette from my lender Topaz Finance
- My plan is to let my 2 bed flat out from the end of June this year as I will be going for a few months. I have a homeowner mortgage with Topaz Finance. I will not be letting for more than 6 months. Most likely it will be 4-5 months. It has been suggested that I seek consent from my freeholder first? Please can you advise what I should be doing in what order?
- Were I to take out a new product with Topaz Finance how long do I have to wait for consent to let without switching from a 1st time buyer mortgage?
- I recently got married and my wife and I would like to buy a family home in the coming year, whilst keeping our garden flat in Haringey we currently live in to rent out. Mortgage on the flat is with Topaz Finance. I wish to avoid putting myself in a situation with two residential properties and then be refused consent to let.
- Is there a maximum period that Topaz Finance is willing to grant me the Consent To Let for?
- I am thinking about letting out my property with consent to let from Topaz Finance, what fees can I expect to pay?
- My husband and I took a mortgage with Topaz Finance but am told they have a policy that they do not issue consent to let the property to a housing association. Is this correct and if so, can you suggest a way round this?
- I am looking at an offer to work overseas and have been advised that I need to let Topaz Finance know so my mortgage is under consent to let? Please could you clarify the best way deal with this?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in conjunction with 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
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Topaz Finance