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.
Recently asked questions relating to Topaz Finance consent to lease
-
We bought a terraced property in 2012 for 305,000 with Topaz Finance. My husband’s job requires him to relocate to Cyprus and now wish to have to get consent to let from Topaz Finance. Do you have any experience of consent to let from Topaz Finance?
-
I'm about to get in touch with Topaz Finance for consent to let out my house in Topaz Finance. However I have put the house on the market but there is no interest and paying a full mortgage, council tax and insurance on vacant house is draining me financially. What approach would Topaz Financetake if I market the property?
- I am looking to move and let out my maisonette in Redbridge. Having bought it in winter 2009 and currently on a high ltv there is little equity in it. My mortgage is with Topaz Finance. Do you know where Topaz Finance stand when it comes to consent to let?
- Your view would be appreciated as to whether consent to let from Topaz Finance is the correct option. I acquired my house nine months ago by porting a Topaz Finance mortgage product. My fixed rate expired 4 months ago I'm weighing up moving in with a new partner. I would prefer not to sell my property yet as I have no idea as to whether the new move will work out. Would it be likely that Topaz Finance would grant a consent to let based on me letting out my property on a an AST for 1-2 years and then I either commit to a buy to let product or sell it?
- How much is it to get a consent to let from Topaz Finance on my residential property. I've moved in with my husband and have a colleague wanting to let out the property.
- Do you know if Topaz Finance would have archive records as to whether consent to let was granted for a specific property?
- My partner and I took a mortgage with Topaz Finance but am informed they have a policy that they refuse to issue consent to let the property to a housing association. Is this correct and if so, is there a method round this?
- What are the implication if a borrower has already leased out the property for a number of years as an HMO and now want to go legit with Topaz Finance by getting consent to let ? (work on the basis that Topaz Finance had previously granted a standard mortgage previously)
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Topaz Finance consent to let Info
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
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
If your property is 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 your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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.
If you do not keep up the payments on your mortgage with Topaz Finance your property may be repossessed