hi all
Would appreciate any views on this one. I bought my house 20 years ago and managed to pay the mortgage down to almost nothing by 2007.
Then I had a brainwave to refinance the house so I could get funds to start my business in November 2007. So I got a tracker with AIB who were fully aware that the loan was nothing to do with purchasing the house or even improving it.
Since then we've paid down the mortgage with no repayment issues thankfully.
I'm now considering renting the house out and before I go down the road of speaking to anyone about the mortgage implications I just wanted to see if anyone here had any practical experience.
My own view is they didn't lend me the money to buy the house then they should have no concern once their security is in place and the mortgage is paid. I don't have the mortgage documents but I'll get these shortly and give them to a mortgage broker.
Appreciate any views.
Thanks
Would appreciate any views on this one. I bought my house 20 years ago and managed to pay the mortgage down to almost nothing by 2007.
Then I had a brainwave to refinance the house so I could get funds to start my business in November 2007. So I got a tracker with AIB who were fully aware that the loan was nothing to do with purchasing the house or even improving it.
Since then we've paid down the mortgage with no repayment issues thankfully.
I'm now considering renting the house out and before I go down the road of speaking to anyone about the mortgage implications I just wanted to see if anyone here had any practical experience.
My own view is they didn't lend me the money to buy the house then they should have no concern once their security is in place and the mortgage is paid. I don't have the mortgage documents but I'll get these shortly and give them to a mortgage broker.
Appreciate any views.
Thanks