I note that letters of offer of mortgage from certain banks are now including a publication from the Irish Banking Federation named the "General Housing Loan Mortgage Conditions". A copy of this can be found on web here:
http://www.prai.ie/eng/Legal_Profes..._General_Housing_Loan_Mortgage_Conditions.pdf
It indciates that (s1.2) the conditions are supplemental to and form part of the mortgage.
Could anyone please:
Clarify as to how long these conditions have been applied to mortgages and if they apply retrospectively.
The reason I ask in particular is that I have a previous mortgage with which I do not recall receiving this publication of supplemental conditions. What is particularly interesting is the condition in 11.14 "Not lease" which appears to require the borrower to obtain written consent from the lender before leasing the property.
http://www.prai.ie/eng/Legal_Profes..._General_Housing_Loan_Mortgage_Conditions.pdf
It indciates that (s1.2) the conditions are supplemental to and form part of the mortgage.
Could anyone please:
Clarify as to how long these conditions have been applied to mortgages and if they apply retrospectively.
The reason I ask in particular is that I have a previous mortgage with which I do not recall receiving this publication of supplemental conditions. What is particularly interesting is the condition in 11.14 "Not lease" which appears to require the borrower to obtain written consent from the lender before leasing the property.
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