karenpur Posted December 6, 2011 Share Posted December 6, 2011 Hi, I have just joined the site and we will be a family of 4 hoping to go to Perth at some stage. Our original plan was that we would rent our house out. The house prices are so crap here , even though we are in out house nearly 10 years we still have 23 years left on mortgage and our house is only worth the balance that is left on the mortgage if even. Only problem is that I have been reading that unless you own your house outright the bank may not let you rent the house out. Our mortgage is with AIB here. Just wondering does anyone have any info on this ? Thanks Kaz Quote Link to comment Share on other sites More sharing options...
Ken Posted December 6, 2011 Share Posted December 6, 2011 Don't ask the bank. Tell them. They're not in a position to negotiate if the house is worth no more than the mortgage. Quote Link to comment Share on other sites More sharing options...
karenpur Posted December 6, 2011 Author Share Posted December 6, 2011 Thanks , its only something I thought about this morning and when I googled it got a bit freaked!!! Quote Link to comment Share on other sites More sharing options...
Sherbetdip23 Posted December 6, 2011 Share Posted December 6, 2011 Hi We have had ours on the market since June and it's still not sold so we will also have to go the rental route. I have heard that so long as you tell your insurers that you are renting and you have it adequately covered you on't need to tell the building society. Whether or not that's officially the case I don't really know. Quote Link to comment Share on other sites More sharing options...
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