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Unemployed, can bank knock me off tracker rate?

  • 08-03-2012 2:32pm
    #1
    newmug
    Banned (with Prison Access) Posts: 3,571 ✭✭✭


    Hi folks. I'm recently unemployed, but still (thankfully) managing to pay my full mortgage amount. I'm with BOI. If I try to re-arrange my repayments, are the bank entitled knock me off my tracker rate?


Comments

  • #2
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    newmug wrote: »
    Hi folks. I'm recently unemployed, but still (thankfully) managing to pay my full mortgage amount. I'm with BOI. If I try to re-arrange my repayments, are the bank entitled knock me off my tracker rate?

    The Bank can only take your tracker off you if a new loan offer had to be issued for any reason. I'd expect given your circumstances and the fact that you have met all repayments that they should be a bit more flexible with you and allow you a reduced monthly repayment or an interest only period without losing your tracker. They can't take your Tracker off you without giving you something in writing that you agree to...


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