We have a very good tracker rate on our existing mortgage with NIB for our apartment. TRS expires at the end of this year. We are considering buying a house next year and renting out the apartment.
If we take out the mortgage on the new house with another lender, and rent out our current apartment, is there any way that NIB will find out that we have sublet? I can't think of any way myself whereby they would receive a notification; PRTB?, credit record check?, etc, but perhaps I have the rose-tinted glasses on.
Has anyone done the same and subsequently been contacted by their original lender? Is there anyone in the banking industry who knows what the situation is?
If we take out the mortgage on the new house with another lender, and rent out our current apartment, is there any way that NIB will find out that we have sublet? I can't think of any way myself whereby they would receive a notification; PRTB?, credit record check?, etc, but perhaps I have the rose-tinted glasses on.
Has anyone done the same and subsequently been contacted by their original lender? Is there anyone in the banking industry who knows what the situation is?