consent to lease

cookie78

Our house is up for sale, if it does not sell does any1 know how FirstTrust Bank (AIB) deal with a consent to lease request if we decide to rent it out instead? Are they usually accepted, is there a fee etc?

Werdnal

CTL approval is usually granted on a case by case basis, so just because someone else with the same lender gets CTL, you may not and vice versa.

They take into account the loan to property value, length of mortgage, how long you have had it etc.

Also they may only grant you CTL on an yearly basis, with all the set-up and admin fees repeated every year, and may reserve the right to rescind this Consent at any time - great if you have tenant on a long term contract that you cannot end quickly.

Are you aware of all the other costs and legal implications of letting?

Good post here you might find helpful:

http://forums.moneysavingexpert.com/showpost.php?p=41160642&postcount=12

cookie78

Werdnal wrote: »

CTL approval is usually granted on a case by case basis, so just because someone else with the same lender gets CTL, you may not and vice versa.

They take into account the loan to property value, length of mortgage, how long you have had it etc.

Also they may only grant you CTL on an yearly basis, with all the set-up and admin fees repeated every year, and may reserve the right to rescind this Consent at any time - great if you have tenant on a long term contract that you cannot end quickly.

Are you aware of all the other costs and legal implications of letting?

Good post here you might find helpful:

http://forums.moneysavingexpert.com/showpost.php?p=41160642&postcount=12

Mant thanks for the advice and link :T