Advising bank re renting ppr?

S

ski

Registered User
Messages
19
hi we are planning to rent our ppr as we are about to relocate west for the foreseeable future
what are our legal requirements ie PRTB?, obviously i know we will no longer be able to claim TRS but do we need to inform our lender that it is no longer our PPR?many thanks
 
You must register with the PRTB.
If you bought the house within the last 5 years, you may be liable for a stamp duty clawback.
It is normally a conidtion of a residential mortgage agreement that you inform the bank of any change in the status of the house.
 
Check the terms and conditions you agreed to when you took the loan,
I imagine you would have to inform them.


crossed with CCOVICH
 
You also need to inform your insurance company as you wouldn't be covered in the event of a claim if they weren't aware of the change of status. Your premium may rise but it is an offsetable cost.

Sarah

www.rea.ie
 
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