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Buy to Let

  • 30-01-2021 3:43pm
    #1
    amf7
    Registered Users Posts: 3 ✭


    I have a house rented out. I pay all the necessary taxes and am registered with prtb etc but I never told my bank. Do they change the interest rate if a property that was once residential is now let out? It never dawned on me until now.I am with AIB and it has been let out for 3 years. Thank you in advance.


Comments

  • #2
    Claw Hammer
    Registered Users, Registered Users 2 Posts: 6,266 ✭✭✭Claw Hammer


    amf7 wrote: »
    I have a house rented out. I pay all the necessary taxes and am registered with prtb etc but I never told my bank. Do they change the interest rate if a property that was once residential is now let out? It never dawned on me until now.I am with AIB and it has been let out for 3 years. Thank you in advance.

    I have never heard of anybody telling them in respect of a house that started out as a PDH and then became a BTL.


  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,362 Mod ✭✭✭✭Jim2007


    amf7 wrote: »
    I have a house rented out. I pay all the necessary taxes and am registered with prtb etc but I never told my bank. Do they change the interest rate if a property that was once residential is now let out? It never dawned on me until now.I am with AIB and it has been let out for 3 years. Thank you in advance.


    You need to read the terms and conditions of your mortgage and related insurance cover to know for certain.


    Some institutions take the view that as it is now being used for commercial purposes rather than your private residence that a different rate applies....


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