BoxerAmotulo
Registered User
- Messages
- 2
Hi all, Here is our situation.
We want to buy a new home for €325k but hang on to our own home which is worth €235k with €135k owing on a 3% mortgage with KBC. We will rent out our old home to my mom for a low rent of about €500 per month, we could get about €1,000 per month but don't want to rent to anyone but family.
Question - will KBC increase our existing mortgage rate (fixed for three years at 3% currently) given that this house will be now deemed an investment property - and if so do you have any idea how much of an increase we can expect?
We want to buy a new home for €325k but hang on to our own home which is worth €235k with €135k owing on a 3% mortgage with KBC. We will rent out our old home to my mom for a low rent of about €500 per month, we could get about €1,000 per month but don't want to rent to anyone but family.
Question - will KBC increase our existing mortgage rate (fixed for three years at 3% currently) given that this house will be now deemed an investment property - and if so do you have any idea how much of an increase we can expect?