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Risking tracker rate to switch mortgage?

  • 26-05-2016 2:27pm
    #1
    wife2b
    Registered Users Posts: 4 ✭


    Hi

    Would I be mad to switch my second home loan to ulster back on SVR of 3.2% given my first home loan is also with UB on tracker rate?
    Could I lose my tracker rate as a result?
    Currently on 3.69% with KBC so sizeable savings to be availed of if I make the move.
    Cost were I to lose my tracker would be enormous.


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 13,578 ✭✭✭✭Geuze


    Unless the two mortgages are linked somehow, then I can't see how the redemption of a BTL mortgage would affect the rate on the PPR mortgage.

    Now, they may be linked in some way???


  • #3
    wife2b
    Registered Users Posts: 4 ✭wife2b


    They are linked insofar as the same person would be named on the mortgage contract for both, and if/when we submit the application for the second home loan we will need to specify that we have an existing property, along with the details of that home loan.

    Would you consider this to be a risk?


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