Sunnyside12
Registered User
- Messages
- 5
Ask if they have a tracker mover product, usually they will let you move with it for a period, say ten years, but they will often add a % to it
misreading on my part!Hi nb
He said he does not need a mortgage.
Even if he did, lenders will not allow BTL mortgages so it could be awkward to avail of the tracker mover.
Brendan
Hi there,Is the option of renting the property to the local authority open to you? Guranteed payment for up to 20 years including no vacancy costs. Tax incentives. No day to day maintenance costs and the local authority is responsible for tennents etc. Rent is a bit lower than open market but I know people who have done it and have no regrets.
As Brendan says, shame to be settling tracker mortgage if you don't need to.
@Sunny. Must be a different scheme alright. Surprised a Council would agree to return the property as is and also deal with the tenents if there was trouble. Either way, I would not take the chance. Also the fact the house has maintenance bills to be paid, a hefty yearly tax bill, finding new tenents when the old ones move out etc. etc. does not make renting out the property profittable regardless that its on a tracker.
Thanks for that information.No! Break out fee only applies to fixed rate mortgages
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?