Need Help?
Need professional advice for your consent to let with Bank of Ireland (UK) 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 Bank of Ireland consent to let
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Bank of Ireland have just granted me consent to let. After some effort, Bank of Ireland have issued me with ‘consent to let’ confirmation . Mention is made of an assured shorthold tenancy. What is that?
- Me and my sister and I may need to rent out our home for a while due to a career opportunity. As we will be away for no more than twelve months would we need a consent to let our home. We already have a Bank of Ireland mortgage. What charges are incurred and is there a time limit on consent to let?
- My mortgage is with Bank of Ireland and wonder if I am duty bound to notify them if we no longer live in my house. I fear that they may increase the interest rate if we move and find a tenant but it's not very obvious what the change would be. If I decide to let my house out and apply for consent to let in what way would the payments change?
- I have had a Bank of Ireland mortgage for just under eight months but I recently found out I will soon lose my job. I would like tips on seeking consent to let by Bank of Ireland
- Is there a maximum period that Bank of Ireland is willing to issue Consent To Let for?
- I am trying to find out which lenders are best for giving consent-to-let without raising rates, and hopefully permitting more than 2 years if necessary. Is that something you can help with? We are particularly interested in Bank of Ireland
- I wish to apply for consent to let from my lender Bank of Ireland to lease out my house. This is due to me relocating. Can you tell me whether Bank of Ireland grant consent to let in this situation?
- I am looking at some alternative lifestyle. I have a Bank of Ireland mortgage, if I become a non-UK resident but wish to rent my UK house, ...what do I need to do to get consent to let. Can this be obtained on via email ?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Bank of Ireland 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
If 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 could result in your insurance becoming invalid. 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 provisions in the lease may prevent you from letting or require that you to have a license to do so from 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
Neglecting to inform 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Bank of Ireland