Hi,
does anyone have experience of switching from home loan to buy to let.
am accidental landlord since 2013 but never told bank. bought 2004
tenants moving out and had been thinking of selling up, need to take a mortgage holiday.
was thinking getting 3 months and put this away to pay months 4/5/6 of presumed 6 month sale process.
with BOI 4.5 SVR. Owe 240K, valuation 380K.
Went into bank to ask about mortgage holiday but they said they need last six months statements which contain narratives on rent made by tenant as well as my new address (wife's home)
Am wondering how to go about this...could they penalise me? Is it a brand new mortgage?
There is a (very slim) possibility we may move back into apartment at some stage in next year too.
Would appreciate any feedback.
does anyone have experience of switching from home loan to buy to let.
am accidental landlord since 2013 but never told bank. bought 2004
tenants moving out and had been thinking of selling up, need to take a mortgage holiday.
was thinking getting 3 months and put this away to pay months 4/5/6 of presumed 6 month sale process.
with BOI 4.5 SVR. Owe 240K, valuation 380K.
Went into bank to ask about mortgage holiday but they said they need last six months statements which contain narratives on rent made by tenant as well as my new address (wife's home)
Am wondering how to go about this...could they penalise me? Is it a brand new mortgage?
There is a (very slim) possibility we may move back into apartment at some stage in next year too.
Would appreciate any feedback.