Hi,
Apologies if this has been asked already but I couldn't find a similar question.
Over ten years ago I took out a annuity mortgage with KBC as a first time buyer for a new home. Recently I've moved from there and started renting the house out while renting a different property in a different location myself, circumstances changed. After talking to KBC about trying to get the current account mortgage discount KBC asked me to send them a letter to change the mortgage type to investment which I did.
I'm still on a 4.25% variable rate but now see the value in switching to a 2 or 3 year fixed on a lower rate. Am worried if I "rock the boat" they might end up switching me to a buy to let rate which is much higher as I'm no longer an owner occupier. Examined my mortgage contract and to my untrained eyes it seems to state that the rate is related to the mortgage type.
It must be a fairly common situation so just wondering what's my best next steps.