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Letting property. Mortgage changes????

  • 12-10-2010 5:31pm
    #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

  • #2
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭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.


  • #3
    Treehouse72
    Registered Users, Registered Users 2 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.


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