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Moving Abroad - Renting House - Tracker rate

  • 12-11-2018 10:14pm
    Registered Users Posts: 42

    Hi, I am moving to England and renting out my house. I am on a tracker mortgage paying under 500 a month.

    1-By renting out, is it possible the bank can move me off the tracker if the residence has changed to rental income? (does the number of years property to be rented taken into consideration)

    2-When I join PRTB, do they notify the bank if they are aware of mortgage payments?

    3-Is income in the UK considered when calculating rental income tax here?

    4-Is it better to get the tenant to deduct the 20% or do it myself at the end of the tax year?

    Which is the best place to look for advice on the above, solicitor/accountant or another source?

    Thanks in advance.


  • Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley

    Keep quiet is what most people do. The RTB won't tip off the bank but stopping TRS possibly will - they're unlikely to move your rate if the mortgage is being paid.

    Legally you should be informing them it's almost certainly in the mortgage contract.