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Moving and keeping tracker?

  • 13-11-2015 7:21pm
    #1
    Razzen
    Registered Users, Registered Users 2 Posts: 152 ✭✭


    Hi all,
    OK we are looking at the possibility of moving house and want to know is it possible in any way to keep our tracker mortgage, or get a discount rate? We will be downsizing our current mortgage but only very slightly maybe 10K less than current.

    Any advise? or suggestions?


Comments

  • #2
    Car99
    Registered Users, Registered Users 2 Posts: 2,530 ✭✭✭Car99


    Razzen wrote: »
    Hi all,
    OK we are looking at the possibility of moving house and want to know is it possible in any way to keep our tracker mortgage, or get a discount rate? We will be downsizing our current mortgage but only very slightly maybe 10K less than current.

    Any advise? or suggestions?

    Can you not keep the full mortgage you have just take it with you then pay 10K lump sum off it when your sale is complete.
    http://m.independent.ie/business/personal-finance/keen-to-move-home-dont-forget-to-bring-the-tracker-mortgage-30158210.html


  • #3
    Razzen
    Registered Users, Registered Users 2 Posts: 152 ✭✭Razzen


    OK didn't think we could do that, it looks promising...

    We are with UB, does anyone know if we could switch to one of the other banks offering better terms?


  • #4
    phormium
    Registered Users, Registered Users 2 Posts: 3,345 ✭✭✭phormium


    Your only hope of keeping the tracker is staying with UB. You cannot switch a tracker to another lender and keep it.

    Is it an ordinary tracker or a current account/offset mortgage tracker?


  • #5
    Razzen
    Registered Users, Registered Users 2 Posts: 152 ✭✭Razzen


    yea the terms seem to have improved now with UB so not as bad as I first thought, they will let you keep tracker (+1%) for 10 years. It's a standard tracker we have but there is a small discount for having current account with UB also.


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