Letter of consent from a lender to a new lease

[Brendan Burgess]

A friend of mine who owns a commercial property has agreed a lease with a new tenant. The tenants are insisting that the landlord must provide a letter of consent from the lender to the new tenancy. Is this normal?

Does a landlord have to get their lender's approval before issuing a lease?

Brendan

 

[Vanilla]

A friend of mine who owns a commercial property has agreed a lease with a new tenant. The tenants are insisting that the landlord must provide a letter of consent from the lender to the new tenancy. Is this normal?

Does a landlord have to get their lender's approval before issuing a lease?

Brendan

Yes. Standard conveyancing practice.

 

[Kerrigan]

I am currently looking at a commercial premises’ which is in the interim of being passed onto NAMA.

Is it possible the tenants are making sure the Landlord is not facing the proposition of being NAMA bound or a bankruptcy in some form?

I have been told by my Solicitor to ask the Landlord to prove that he has permission to lease the property because if he doesn’t I will simply find myself out on my ear mid lease.

 

[Brendan Burgess]

Thanks Vanilla

Brendan