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Selling property on mortgage

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  • 29-11-2009 3:50pm
    #1
    none
    Registered Users Posts: 569 ✭✭✭


    Hi,
    Say a few years down the road you need to move. If you always paid in time and are able to find a buyer at a reasonable price that pays off the debt, does it have some impact on your credit history? Or any other bad things about it?
    Thanks


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    #2
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    No. If someone was constantaly getting loans and paying them back early it may not be looked on as good (the bank not making as much as they forecasted)
    The way things are now it matters more that you are not missing payments.


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    #3
    themoneyguy
    Registered Users Posts: 75 ✭✭themoneyguy


    It will have no impact at all. Simply put if you are one of the lucky ones that cab make payments always on time and sell your property to clear the loan there will be no affect on your history


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    #4
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    Up until recently at least, the average life of a mortgage in this country was around 7 years, so its completely routine


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