porting a tracker to new house if its been previously rented

acb

We have an apartment that we want to sell.
It was our principal private residence (PPR) up until we had to emigrate.
We then rented the apt out and continue to do so.

We are back now permanently in Ireland but with 2 kids , the apt is far too small and so need to rent a bigger house.

We're with AIB and so because we have a tracker will more the likely have to stay with AIB.
When I look up their T&Cs for tracker retention ..it says the property must be you PPR. I know from the whole NPPR charge, even if you only have one home (which we do, the small apartment) and you rent it out and rent another place, its technically not your PPR anymore.


From AIB site......Tracker Retention: Key features and eligibility requirements

Tracker Retention is only available to existing AIB mortgage customers with a tracker interest rate on their principal private residence and who are not experiencing difficulties making their existing mortgage repayments


I guess the issue is....do we have to be in the property at the time of sale and in the months leading up to it in order to avail of AIBs tracker retention. Surely there is a lot of families that have moved out of their PPRs because of changing circumstances and now wish to sell them but keep the tracker.

Am wondering is there anyone here that has experience of bringing over their tracker to a new property that had it rented in the past.

Im getting concerned we will have to move back into our small apartment for a year or so prior to selling it, keeping our tracker and buying another one.
Thanks for all assistance.

peteb2

I'm going to guess that a large number of people that have trackers and rented the properties kept shtum about it as it was probably in the T & C's that they should have had to have moved to a different product type as a result and would have lost the tracker.

endaoloughlin

Hi I am in the same situation, how did this issue resolve itself in the end?