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Bank refusing to agree to lease

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  • 17-12-2010 10:21pm
    #1
    mainframe
    Closed Accounts Posts: 6 ✭


    Hi Folks,
    Does anyone know if a bank can refuse you to let out your house on a long term lease (10 Years) because it is not their "policy" to agree to a long term lease?

    its my only and principal residence but because of circumstances, i now have to rent it out.
    Any help appreciated


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    #2
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 51,687 Mod ✭✭✭✭Stheno


    I don't know much about this, but on thinking about it, I'd imagine their refusal has something to do with how it might impact their ability to repossess if it got to that?

    I.e. there is a contract in place essentially giving the tenant security for ten years that might affect the banks stake in it?


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    #3
    Doom
    Banned (with Prison Access) Posts: 2,381 ✭✭✭Doom


    Why did you tell the bank?


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    #4
    mainframe
    Closed Accounts Posts: 6 ✭mainframe


    Doom - i Told the bank because the lease is from the council and they requested the banks consent.

    Stheno - yes I also think this is the reason.

    I know other Banks have agreed to this lease, why would my bank be any different?


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    #5
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    What bank are you with ?


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    #6
    mainframe
    Closed Accounts Posts: 6 ✭mainframe


    AIB


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