Selling property with arrears owing

S

sellornot

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We have decided to sell our house. Auctioneers value the house at €290K. amount owed on mortgage €250K including arrears of €85K There will be auctioneers & solicitors fees to pay
Will I need to inform the bank of the pending sale? I should say solicitors have been instructed to discharge the debt to the bank.
sellornot
 
Your solicitor will look for redemption figures from your mortgage provider, you do not need to contact the lender, they will look after this.
 
It might be no harm to tell them so that they don't chase after you for the arrears.

But they don't have to give their permission for the sale.

Brendan
 
I mean that if they don't know you are selling it, they will be chasing you to clear the arrears. If you tell them that you are selling it, they will probably stop ringing you.

Brendan
 
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