Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Letting property. Mortgage changes????

Options
  • 12-10-2010 6:31pm
    #1
    DustyMan
    Closed Accounts Posts: 214 ✭✭


    Hi all,

    I'm going overseas to work and need to let my property. The thing is my mortgage is fixed for 3 years, and that 3 yr period will end in Feb of next year. The property was/is my primary place of residence. The mortgage was not a buy-to-let just the typical mortgage for a housebuyer. (In fact it was a 100% mortgage. Mad I know).
    Can anyone advise me about the new possible implication with regard to my mortgage? e.g especially will my mortgage company (KBC) allow me to let my property?
    I've never missed a mortgage repayment et cetera and have a clean credit record.
    Thanks in advance for any advice/info.


Comments

  • Options
    #2
    3DataModem
    Registered Users Posts: 3,994 ✭✭✭3DataModem


    I have moved out of my home and let it out on three separate occasions.

    All three times I told the bank.

    They never objected or changed the repayment terms.

    Ulster Bank, BOi, First Active were the lenders.

    I wouldn't worry.


  • Options
    #3
    Treehouse72
    Registered Users Posts: 1,003 ✭✭✭Treehouse72


    It's likely the bank will allow you let the property, but it's also likely they'll look to move you onto a BTL rate if it is higher than your current rate, or that they'll do so in February when the fixed period ennds.


Advertisement