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Depends on your lender and the terms & conditions of your loan agreement.My query is, given i have changed staus from private home owner to investor, can I still avail of the private home owner mortgage rates and terms?
Rental income net of tax?While the rental income currently covers the mortgage
See the key post in this forum on why an interest only mortgage may make sense for an investment property.the massive increase required by getting investor rates and terms will result in huge personal contribution tot he mortgage.
Not all mortgage contracts oblige you to inform the lender if you change from an owner occupier to a landlord. Check out the small print in your contract. I have a mortgage that was originally an owner occupier and had a fixed rate, the bank branch know it is rented out but when the rate was up Dublin just sent a new form/letter and I completed it, it was a matter of ticking a box and signing it.
As I and others have said - read the T&Cs of your loan agreement!I'm wondering am i legally obliged to inform my mortgage provider that my status of ownership has changed?
That sounds more a case of the left hand not knowing what the right hand is doing than anything else. Had the boys up in the big smoke known, rather than just the local branch it may have been different.
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