I would really appreciate if someone could clarify something for me.
I bought a house while single and got a PTSB tracker mortgage, I have it rented out now. I am living in another county with husband and family in a house my husband bought while he was single (variable rate now KBC).
We have an eye on a house that we would like to buy - we will need to sell my husbands house (current house living in) to make some equity. But I looking at the option of also selling my rented property and taking the tracker with me to purchase the new house - the sale will just cover the mortgage so no "profit" will be made, I would be selling to get the tracker onto the new home and for no more hassle with renting (I envisage selling it within the next 3 years anyway as it has come up in value recently and the mortgage will be cancelled out).
I just see in the T&Cs that the existing property and new property must be your family home.
Im wondering is there any way around this?
Thank you
I bought a house while single and got a PTSB tracker mortgage, I have it rented out now. I am living in another county with husband and family in a house my husband bought while he was single (variable rate now KBC).
We have an eye on a house that we would like to buy - we will need to sell my husbands house (current house living in) to make some equity. But I looking at the option of also selling my rented property and taking the tracker with me to purchase the new house - the sale will just cover the mortgage so no "profit" will be made, I would be selling to get the tracker onto the new home and for no more hassle with renting (I envisage selling it within the next 3 years anyway as it has come up in value recently and the mortgage will be cancelled out).
I just see in the T&Cs that the existing property and new property must be your family home.
Im wondering is there any way around this?
Thank you