First post. I hope someone can assist.
My mother has had to move in with my sister due to serious health issues and wont be returning to her home, in Northern Ireland.
We own one property, the one we live in, which has a mortgage. Based in Dublin.
Post Covid plan - we are contemplating letting out our home in Dublin, moving North and renting my mothers home for a 12 month period. Not sure about selling up and moving there permanently without trialling it all first. Thought this might provide ideal way. Work remotely so currently it doesn't matter where we live from that aspect.
Contacted two letting agents before Covid for information on their services and what we need to do re: tax, prtb registration etc.
Asked both of them do we need to change our residential mortgage to a buy to let. They said no. Is this correct?
This is not sitting right with me.
As I understand it, we have to let the bank know if we don't live here for correspondence etc - for example they will continue to send annual mortgage statements to the address of the property mortgaged?
My mother has had to move in with my sister due to serious health issues and wont be returning to her home, in Northern Ireland.
We own one property, the one we live in, which has a mortgage. Based in Dublin.
Post Covid plan - we are contemplating letting out our home in Dublin, moving North and renting my mothers home for a 12 month period. Not sure about selling up and moving there permanently without trialling it all first. Thought this might provide ideal way. Work remotely so currently it doesn't matter where we live from that aspect.
Contacted two letting agents before Covid for information on their services and what we need to do re: tax, prtb registration etc.
Asked both of them do we need to change our residential mortgage to a buy to let. They said no. Is this correct?
This is not sitting right with me.
As I understand it, we have to let the bank know if we don't live here for correspondence etc - for example they will continue to send annual mortgage statements to the address of the property mortgaged?