# Can Bank of Scotland Tracker be withdrawn if  PPR becomes rental property



## Yossarian (11 May 2017)

Hi all,

I currently have a tracker with Bank of Scotland Ireland on my PPR and am in negative equity but we are moving to a bigger house and have been approved for a new mortgage on the new property while keeping our current house and renting it out. 
My question is will BOSI withdraw the tracker if our current property is rented out or are they happy enough for it to continue as it is with them not really having any presence here now. Also, is it necessary to advise them of the change in circumstances?


----------



## Brendan Burgess (11 May 2017)

Please edit the title to make it meaningful. Thanks


----------



## PFS7979 (13 May 2017)

Hi Yossarian,

your query and its title is certainly meaningful as any alternative rate on the present BoS mortgage would impact significantly on your finances. My suggestion would be to put the query to BoS and get certainty on the issue. 

Good luck with it.


----------



## Maggs065 (22 May 2017)

Is there any obligation legally to tell them? You would need to get landlord insurance though.


----------



## Willows6 (23 May 2017)

Hi Yossarian

We have a tracker mortgage with BoSI and we have been renting our house out for 7 years. We never changed the correspondence address. The statements still go to the rental property. We have had landlord insurance since we started renting. BoSI have never requested a copy of our insurance.


----------



## SirMille (23 May 2017)

Changing the correspondence address will result in your mortgage changing to a buy to let.

Some people pay the postal service an annual fee to redirect post from the PPR to their new home.


----------



## Commercial (23 May 2017)

Willows6 said:


> Hi Yossarian
> 
> We have a tracker mortgage with BoSI and we have been renting our house out for 7 years. We never changed the correspondence address. The statements still go to the rental property. We have had landlord insurance since we started renting. BoSI have never requested a copy of our insurance.



I would agree with this. Once you keep payments up to date and BOSI may never find out.


----------

