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KBC - keeping tracker rate, when rented

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  • 25-02-2014 5:05pm
    #1
    Orangey
    Registered Users Posts: 1 ✭


    Hi all,
    has anyone had a tracker rate with KBC on a mortgage on their home and then rented out this property? When you informed KBC, what was their response? Did you get to keep tracker rate or did you have to change to a different rate?
    There is nothing specific in the loan offer or mortgage deeds that says they can change us from the tracker rate to an investment interest rate (i.e. a variable rate) but I have read a newspaper article, where their spokesperson says this is their policy. I am trying to find out if anyone has any personal experience of this situation.
    I know that we could just 'not tell them' but I don't roll that way! Also, its actually a specific requirement in the mortgage deeds, that the mortgagee should seek the consent of the mortgager, before leasing the property.
    Tagged:


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    #2
    BHleo25
    Registered Users Posts: 1 ✭BHleo25


    Hi,
    I am also looking into renting out a property that has a tracker mortgage with KBC. Did you get to keep your tracker when renting ?


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    #3
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    I think all lenders count themselves lucky to be getting the mortgage paid so don't believe they will charge you a higher interest rate or take away your tracker however I would advise that you read your terms and conditions of your loan offer.


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