Learner2015
Registered User
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Hi all,
I have had a mortgage with AIB since 2006. I was reviewing the file as I wanted to find my mortgage contract and have two documents. Does anyone know if either of the two below are my mortgage contract? I just want to check that there is nowhere in the contract that says if I rent it out they can take me off the tracker - it is btw for the last 3 years but am hoping to port my tracker to a new house so just wanna be sure!
1) a letter saying they have considered my application for a housing loan and agree to advance same. It also includes an appendix with two references to renting. One says "purpose of loan is to acquire for the use of borrowers personal residential use or that of my dependants". The other says "the borrower is prohibited from granting any tenancy on the property being acquired. The property shall have vacant possession on acquisition"
2) a letter saying we now enclose a copy of deed of mortgage between you and AIB. This deed has a part in it saying "not to convey assign transfer let licence surrender grant rights over or part of with the possession of the mortgaged property or any part thereo with first obtaining consent in writing of the mortgagee and not to excercise statutory powers of leasing or agreeing to lease or of accepting or agreeing to accept a surrender of any lease with written consent of mortgage" and another but that says "the borrower shall not have the power to make any lease letting or agreement for a lease or letting or to create a second mortgage or subsequent mortgage or charge without the prior consent in writing of the mortgagee".
So I cannot find anywhere in the above two that says anywhere my rate will change if I rent - obviously per the above I should of told them but I do everything else by the book properly like pay tax, PRTB etc from day one of rental. Is there anything else I should request from the bank before laying my cards on the table to make sure I am safe?
I have had a mortgage with AIB since 2006. I was reviewing the file as I wanted to find my mortgage contract and have two documents. Does anyone know if either of the two below are my mortgage contract? I just want to check that there is nowhere in the contract that says if I rent it out they can take me off the tracker - it is btw for the last 3 years but am hoping to port my tracker to a new house so just wanna be sure!
1) a letter saying they have considered my application for a housing loan and agree to advance same. It also includes an appendix with two references to renting. One says "purpose of loan is to acquire for the use of borrowers personal residential use or that of my dependants". The other says "the borrower is prohibited from granting any tenancy on the property being acquired. The property shall have vacant possession on acquisition"
2) a letter saying we now enclose a copy of deed of mortgage between you and AIB. This deed has a part in it saying "not to convey assign transfer let licence surrender grant rights over or part of with the possession of the mortgaged property or any part thereo with first obtaining consent in writing of the mortgagee and not to excercise statutory powers of leasing or agreeing to lease or of accepting or agreeing to accept a surrender of any lease with written consent of mortgage" and another but that says "the borrower shall not have the power to make any lease letting or agreement for a lease or letting or to create a second mortgage or subsequent mortgage or charge without the prior consent in writing of the mortgagee".
So I cannot find anywhere in the above two that says anywhere my rate will change if I rent - obviously per the above I should of told them but I do everything else by the book properly like pay tax, PRTB etc from day one of rental. Is there anything else I should request from the bank before laying my cards on the table to make sure I am safe?