# Renting out property when you have a tracker mortgage?



## Paulk (25 May 2010)

Hi,

Just wondering is it possible to rent out your property when you have a tracker mortgage?

Somebody told me that it wasn't possible, however, I can't see any reference in my loan offer stating that I will forfeit the tracker mortgage if I rent out my property.


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## huskerdu (25 May 2010)

Some residential mortgages may stipulate in the T&Cs that the rate offered is only applicable for a residential property and the bank would have the right to change the rate and remove the tracker if the house is not a residental property but is an investment property.
Also, the detailed T&Cs would be in the mortgage contract that you signed, not the loan offer. 

So, maybe your mortgage does not have these rules, or maybe you haven't found the relevant T&C's yet.


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## johnfkm (26 May 2010)

Hi,

I have the same question.
I checked the T&C's in my loan offer and it is not mentioned.
I have kept all the information from the bank but cannot find a more detailed T&C's than the loan offer.
Is there anyway of checking the detailed T&C's that were in my contract  without contacting the bank ?

Thks


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## jigsaw (8 Aug 2010)

im in the same boat as you, i want to check if i will lose my tracker but dont want to ring the bank


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## Pat Bateman (8 Aug 2010)

Then just rent it out without telling them.  Others will no doubt disagree but that's what I'd do.  Ensure that you comply with your tax, PRTB, insurance and other obligations though.


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## Troy McClure (8 Aug 2010)

+1


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