Selling rented house, will mortgage provider check it was rented?

[aristotle]

Hi,

I will be selling a property that was rented and registered with the RTB.

My mortgage T&Cs say if the property was rented the bank could/would charge an investment rate as the property would no longer be my primary residence. I never informed the bank it was rented.

Will the bank likely check for this as part of closing off the mortgage balance/account or are they likely to just accept the mortgage pay off with no questions?
Anyone have practical experience?

Thanks

 

[skrooge]

As long as you're clearing the mortgage in full that won't follow up there's no point in them checking. They cant retroactively inforce a higher rate.

 

[aristotle]

Why could they not retroactively in force a higher rate?
That’s my concern. Could they not find out from the RTB and send me a big nasty bill for unpaid interest?

I have never read or heard about this happening so that is one positive.

 

[Monbretia]

Never came across it happening in all my years in banking so extremely unlikely! The request will go in for redemption figures and it will just be sent out by admin staff, no one will even give it a second look!

 

[Dr Strangelove]

Why could they not retroactively in force a higher rate?

Not a chance.

There are tens of thousands of PPR mortgages in Ireland that are now rentals.

Once the mortgage is performing the lender doesn’t want to know and never will.