I am considering selling my house as I am changing jobs to a different part of the country. I have tracker mortgage with ulsterbank and I am 10 years into my mortgage I believe the house is currently out of negative equity. I was considering discussing with ulsterbank their moving house offer (keep tracker for 10 years) as I have to move quickly for new job and will have to pay rent in new location. Do you think bank would agree to interest only until house is sold and I have found new property?
I did consider hanging on to property and renting it out.. esp as house prices rising, have looked into it, but the horrendous tax ( higher rate taxpayer), loss of ppr status and risk of troublesome tenants puts me off a bit!!
Interest only until I sell property would help financially.. i have a good history, never being behind on payments. Took a 6 month repayment break last year due to health reasons but that was an"allowable" break and was in the terms and conditions. Do you think bank would be ok with it?
I did consider hanging on to property and renting it out.. esp as house prices rising, have looked into it, but the horrendous tax ( higher rate taxpayer), loss of ppr status and risk of troublesome tenants puts me off a bit!!
Interest only until I sell property would help financially.. i have a good history, never being behind on payments. Took a 6 month repayment break last year due to health reasons but that was an"allowable" break and was in the terms and conditions. Do you think bank would be ok with it?