Does anyone have experience with converting their mortgage to an investment loan?
My partner and I am moving into a new place and they have an existing 45m2 apartment that they have a mortgage for. We know that it needs to be converted to an investment loan if we move out but wanted to hear anyone’s experience with this.
We are hoping to keep the place and swap it to rental property but have heard some things like the bank might reduce the duration of the loan depending on the age etc that are a bit worrying.