Hi folks,
We made tentative enquiries today about leasing my house out to the local council.
I checked my PTSB mortgage paperwork and it doesn't say anything about losing your tracker if you rent the property but I understand we will lose our interest relief.
The council promise an 80% rental income if you take up the option of a 10-year lease.
We owe 170k, are in negative equity and we badly need somewhere bigger to live as extending is not an option.
Has anybody here dealt with their local council about this initiative and what way has it worked for them?
Thanks
We made tentative enquiries today about leasing my house out to the local council.
I checked my PTSB mortgage paperwork and it doesn't say anything about losing your tracker if you rent the property but I understand we will lose our interest relief.
The council promise an 80% rental income if you take up the option of a 10-year lease.
We owe 170k, are in negative equity and we badly need somewhere bigger to live as extending is not an option.
Has anybody here dealt with their local council about this initiative and what way has it worked for them?
Thanks