davidgalaxys3
Registered User
- Messages
- 5
Hi All,
I have a house in my name and have a joint mortgage( myself+spouse) with NIB(Dankse bank ) on ECB tracker. This is our principal private residence and was never rented out to any one.
I am planning to buy a new house and it will be joint mortgage ( myself+spouse) with different bank. This house will be registered in joint names.
I plan to move into new house asap , but spouse is gonna stay for one more year in existing house and eventually spouse will also move with me in my new house after a year.
Ques- Which will be considered as a principal private residence?
Ques- Will my existing house mortgage change from ECB tracker to investment property tracker as loan agreement has this clause? When does it change as my spouse will still be staying in existing house for at least a year?
What about TRS on my existing house, as currently I get TRS on my existing house as a first time buyer? Does this TRS for existing house stop when I buy new house?
Do I need to speak to my existing bank for this new property and change over to new interest rate? Or do they get notified automatically?
I really want to hold on to ECB tracker for my existing house. How can it be achieved? Does NIB bank really force for switching to investment interest rate? Has anyone seen this happening?
Regards
David
I have a house in my name and have a joint mortgage( myself+spouse) with NIB(Dankse bank ) on ECB tracker. This is our principal private residence and was never rented out to any one.
I am planning to buy a new house and it will be joint mortgage ( myself+spouse) with different bank. This house will be registered in joint names.
I plan to move into new house asap , but spouse is gonna stay for one more year in existing house and eventually spouse will also move with me in my new house after a year.
Ques- Which will be considered as a principal private residence?
Ques- Will my existing house mortgage change from ECB tracker to investment property tracker as loan agreement has this clause? When does it change as my spouse will still be staying in existing house for at least a year?
What about TRS on my existing house, as currently I get TRS on my existing house as a first time buyer? Does this TRS for existing house stop when I buy new house?
Do I need to speak to my existing bank for this new property and change over to new interest rate? Or do they get notified automatically?
I really want to hold on to ECB tracker for my existing house. How can it be achieved? Does NIB bank really force for switching to investment interest rate? Has anyone seen this happening?
Regards
David