Need Help?
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.
Examples of recent questions relating to Ulster Bank consent to let
- In what situations will consent to let for a property be given from Ulster Bank? For what period of time do you have to have had the mortgage before consent to let can be obtained from Ulster Bank? In order to give you some perspective I am a newly qualified accountant in a home bought a matter of months ago. The perfect job offer involving relocation to Haringey permanently has come up. I would be interested in securing consent to let in the first instance with a view to renting the property out to cover the costs of the Ulster Bank mortgage.
- I own a 2 bed leasehold flat via a Ulster Bank mortgage and have a lodger in the 2nd bedroom. I am about to take a job in a different city and will rent there. My lodger doesn't want to move out so has agreed to pay a higher rent. Must I seek consent to let from Ulster Bank?
- We bought a property in 2006 with the help of a housing association, I own half via mortgage and rent the remaining half. In late 2014 I bought a new house. I rented out my first property and moved to the new property. I secured consent to let from my lender and I believed I had consent to let from the housing association. Last week I had a letter from the housing association saying they had nothing on record indicating I had their permission to sublet. What do I do now?
- My husband and I are soon to send the final details to our broker for them to proceed with our mortgage application to buy our first home together. My husband has another flat in 2001 which he jointly owns with his brother. That flat was and continues to be let out without any consent to let from Ulster Bank. Fast forward to our application - our broker is seeking info on the Ulster Bank mortgage. If we admit about the lack of consent to let from Ulster Bank will it materially impact the chances of getting a mortgage?
- I am trying to figure out which mortgage providers are best for granting consent-to-let without raising rates, and hopefully allowing more than two years where necessary. Is that something you can help with? We are particularly interested in Ulster Bank
- I'm thinking about letting my property on a homeowner mortgage with Ulster Bank what is the procedure for getting consent to let?
- I'm possibly going to NYC for a year with work. Planning on taking my partner with me and hoping to rent our Sutton home in the meantime on a temp basis to make matters more cost effective. I was just wondering where I can I get a consent to application form from
- Will Ulster Bank choose to operate a right to switch the rates on a domestic mortgage where Consent to Let at any time, onto ‘rates equivalent to their B2L range'? Is it possible to refinance on a consent to let with Ulster Bank?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Ulster Bank 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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them taking legal action 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 Ulster Bank