CatherineK
Registered User
- Messages
- 7
Hi all,
A few years ago we had to move county for work and have rented out our house since then as we were unable to sell at the time due to negative equity. We are ourselves are also renting.
We have been paying tax on our rental income but never told bank as there was no way we were ever going to be able to afford any increase in monthly payments with our tracker mortgage or loss of it. Our mortgage is with UB which started in 2005 and there has never been any missed payments.
So now we want to sell it...my question is has anyone else had any issue with bank in a similar situation? Got caught out? As a seller do I have to notify the bank of my intention to sell etc?
We would want to sell first then look to buy. We are happy where we are renting so no rush to buy.
I would appreciate any advice or assistance.
Thanks in advance!
Catherine
A few years ago we had to move county for work and have rented out our house since then as we were unable to sell at the time due to negative equity. We are ourselves are also renting.
We have been paying tax on our rental income but never told bank as there was no way we were ever going to be able to afford any increase in monthly payments with our tracker mortgage or loss of it. Our mortgage is with UB which started in 2005 and there has never been any missed payments.
So now we want to sell it...my question is has anyone else had any issue with bank in a similar situation? Got caught out? As a seller do I have to notify the bank of my intention to sell etc?
We would want to sell first then look to buy. We are happy where we are renting so no rush to buy.
I would appreciate any advice or assistance.
Thanks in advance!
Catherine