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Are haven mortgages allowing people to keep their tracker mortgage plus 1%?

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  • 08-03-2014 12:21pm
    #1
    Ainzy30
    Registered Users Posts: 2 ✭


    I know AIB announced yesterday that they would let people keep their trackers plus 1% , this is also going to be allowed in ebs as it is owned by aib. I'm just wondering does anyone know if this will be applied to haven mortgages? Haven are a wholly owned subsidiary of ebs ? I have rang haven customer service who told me they don't know. Thanks


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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    allowing people keep their trackers ......

    what exactly do you mean. In relation to what your post is beyond vauge


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    #3
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    D3PO wrote: »
    allowing people keep their trackers ......

    what exactly do you mean. In relation to what your post is beyond vauge

    In relation to moving to another home. It's all over the financial news.

    OP, no idea if Haven are included. Best bet is to ring them Monday to see.


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    #4
    GerardKeating
    Registered Users Posts: 7,652 ✭✭✭GerardKeating


    Ainzy30 wrote: »
    I know AIB announced yesterday that they would let people keep their trackers plus 1% , this is also going to be allowed in ebs as it is owned by aib. I'm just wondering does anyone know if this will be applied to haven mortgages? Haven are a wholly owned subsidiary of ebs ? I have rang haven customer service who told me they don't know. Thanks

    In Theory, if you sell a house and buy another one, you clear the first mortgage and take out a second one.

    If they give an option to "keep the tracker" for the second mortgage, they can impose any condition, and the customers has to decide if they want to agree, or not move house.


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    #5
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    GerardKeating wrote: »
    In Theory, if you sell a house and buy another one, you clear the first mortgage and take out a second one.

    If they give an option to "keep the tracker" for the second mortgage, they can impose any condition, and the customers has to decide if they want to agree, or not move house.

    But it is clear what the "condition" is - new loan is offered at existing tracker rate + 1%.


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    #6
    KetchupKid
    Registered Users Posts: 198 ✭✭KetchupKid


    This is great news for people on tracker mortgages that want to move house, but it doesn't seem fair to those on variable rates. Technically if you sell, you need to pay off the mortgage and get a new one. With this new proposal someone who is on ECB + 0.5% is only paying 0.75% at the moment and if they move house their new rate will be 1.75%, but those on variable rates are currently paying 4.56%. I understand the motivation, but how can they give such an incentive to those lucky enough to be on trackers and leave the variable rate customers to rot and jack-up their rate every time the ECB lowers the rate?


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    #7
    Ainzy30
    Registered Users Posts: 2 ✭Ainzy30


    I know for us this is a life saver as we are circa 160 k in negative equity so this may help us recoup some of our loss.

    The variable rates just seem so high at the moment it's unfair.


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    #8
    GerardKeating
    Registered Users Posts: 7,652 ✭✭✭GerardKeating


    dotsman wrote: »
    But it is clear what the "condition" is - new loan is offered at existing tracker rate + 1%.

    I never said it was unclear.


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    #9
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    Yes AIB Mortgage Bank, EBS and Haven announced at the weekend they will be offering this product to all their customers who are on tracker mortgages and wish to trade up. Permanent TSB recently announced they will also offer this product. Plus 1% on existing tracker on the current balance and extra funds will be charged at the variable rate.

    Ainzy30 wrote: »
    I know AIB announced yesterday that they would let people keep their trackers plus 1% , this is also going to be allowed in ebs as it is owned by aib. I'm just wondering does anyone know if this will be applied to haven mortgages? Haven are a wholly owned subsidiary of ebs ? I have rang haven customer service who told me they don't know. Thanks


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