Hi,
I have had a tracker since 2006 on my house. Was forced to rent the house to work abroad in 2011. I had hoped to sell the place pretty quickly but with the property crisis it never happened. The rent covers the mortgage. I want to sell it this year. I only owe half of the property value as I built the house. Need to give 6 months notice to the tenants and do some renovations. Dont have a copy of my mortgage agreement but recall the letter of acceptance has a clause stating no one else was to live in the house. I want to put a stop on my mortgage for a year, I remember I am entitled to do this, or go interest only for a year, which I am also entitled to. I am just concerned that I will be interrogated if I call them and cause problems. What are the consequences if they realise I have been renting it. Can they retrospectively increase and back date the interest mortgage?
I have had a tracker since 2006 on my house. Was forced to rent the house to work abroad in 2011. I had hoped to sell the place pretty quickly but with the property crisis it never happened. The rent covers the mortgage. I want to sell it this year. I only owe half of the property value as I built the house. Need to give 6 months notice to the tenants and do some renovations. Dont have a copy of my mortgage agreement but recall the letter of acceptance has a clause stating no one else was to live in the house. I want to put a stop on my mortgage for a year, I remember I am entitled to do this, or go interest only for a year, which I am also entitled to. I am just concerned that I will be interrogated if I call them and cause problems. What are the consequences if they realise I have been renting it. Can they retrospectively increase and back date the interest mortgage?