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Need professional advice for your consent to let with Ulster Bank? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.

Questions and Answers: Ulster Bank consent to let

  • What is the most extreme action Ulster Bank can take if I have Sublet my flat in the event that consent to let is not forthcoming?

  • My fiance and I are presently one year into a year fixed rate mortgage with Ulster Bank. We would like to acquire a more substantial second property in the next year however would like to keep the first property and I was enquiring as to what reason we could put down on the consent to let application to obtain consent to from Ulster Bank
  • I have a current mortgage contract with Ulster Bank and need clarify if it would be possible to seek consent to let out our ground floor flat in Sutton.

    The reasons(s) for needing to lease out the property are are due to: -

    • My wife and I will be migrating to Cape Town early next year.
    • In letting out the property this will facilitate savings to support the migration process.
    • It would be pointless from a fiscal perspective to pay off the mortgage for a property which we are not residing in and by renting out the home this would be considered as continuing investment.

    If Ulster Bank granted permission to us for renting we would propose some financial commitments which are as follows: -

    • Continue to pay the monthly mortgage payment by direct debit.
    • Instruct an approved letting agent who will provide a rent guarantee scheme as a further financial protection.
    • Provide our forwarding address for when we emigrate.
  • For two years now I have been with Ulster Bank and have just renewed a fixed rate. The loan to value is about 28%. Unfortunately we must move into my elderly mother-in-law's flat to care for her, it would make sense to rent our house out - do I require consent to let from Ulster Bank and is it likely to be expensive?
  • My wife and I have a letter to Ulster Bank requesting consent to let signed and ready, but I'm not sure what address I should post this to. Can you please help me with the address?
  • Am I required to wait for consent to let to be granted on my prevailing residential mortgage with Ulster Bank before applying for a resi mortgage on a second property?
  • Do you know whether Ulster Bank will accept rental income on consent to let for affordability purposes or does it need to be BTL ? Would Ulster Bank let me raise capital based on the rental income ?
  • I have a mortgage with Ulster Bank but am wanting to lease my house out and move in with my partner and baby what is required to obtain consent to let?