We currently have an NIB tracker mortgage at 0.51% above ECB on our apartment. We plan/hope/intend to buy a house sometime in the next 6-18 months. If possible, we would like to keep our apartment and we would probably have enough for stamp duty plus 10% deposit on the house. While getting a 90% mortgage on the house is by no means a certainty, my question here concerns our existing mortgage on our apartment. Given it is such a good rate we would like to keep it. Our mortgage agreement however includes an undertaking (of ours) that says
14.1.1 not to assign, lease, sublet, license, alienate or otherwise allow the Property out of our possession, ownership or control without the banks written consent
Given that NIB are probably currently making a loss on our mortgage, how likely is it that such written consent would be given? Has anyone else any experience with this?
14.1.1 not to assign, lease, sublet, license, alienate or otherwise allow the Property out of our possession, ownership or control without the banks written consent
Given that NIB are probably currently making a loss on our mortgage, how likely is it that such written consent would be given? Has anyone else any experience with this?