Hello. I'm hoping to tap into the brains trust and get some input regarding my tracker.
I bought a "buy-to-let" apartment in Dublin in 2008- interest free for first 5 years.
Repayments are now 2000 per month. With all the extra costs (management company fees, property tax, repairs, income tax etc) I'm funding approx 800 euro per month after rental income. I'm an accidental landlord and really want to exit the situation.
I'd like to port the tracker mortgage under UB's current tracker mover product to a residential home for my family as there's no way we could live long term in the buy to let (we're currently living abroad but will relocate back to Ireland this year).
My two questions are:
1. Does anyone have any idea how long this tracker mover product will remain available?
2. Does anyone know whether the tracker mover product is available for a "buy-to-let" to "principal private residence" purchase? As it stands, and with the current rental market we would be financially better off to move the tracker as opposed to renting a family home and funding the shortfall for mortgage repayments.
I will contact UB soon but just wondering whether anyone here has any experience in this regard.
Thanks!
I bought a "buy-to-let" apartment in Dublin in 2008- interest free for first 5 years.
Repayments are now 2000 per month. With all the extra costs (management company fees, property tax, repairs, income tax etc) I'm funding approx 800 euro per month after rental income. I'm an accidental landlord and really want to exit the situation.
I'd like to port the tracker mortgage under UB's current tracker mover product to a residential home for my family as there's no way we could live long term in the buy to let (we're currently living abroad but will relocate back to Ireland this year).
My two questions are:
1. Does anyone have any idea how long this tracker mover product will remain available?
2. Does anyone know whether the tracker mover product is available for a "buy-to-let" to "principal private residence" purchase? As it stands, and with the current rental market we would be financially better off to move the tracker as opposed to renting a family home and funding the shortfall for mortgage repayments.
I will contact UB soon but just wondering whether anyone here has any experience in this regard.
Thanks!
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