If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Tracker Mortgage 2016

jackostone · 2016-11-23 10:59:44

Does anyone know if a bank can change your tracker rate if you transfer your mortgage to another property?

23-11-2016 11:59am

#1

jackostone

Registered Users Posts: 9 ✭

Join Date: August 2006

Posts: 6

Does anyone know if a bank can change your tracker rate if you transfer your mortgage to another property?

0

Comments

#2 25-11-2016 3:47am

skippy2

Registered Users, Registered Users 2 Posts: 393 ✭✭

Join Date: August 2009

Posts: 362

you cannot transfer a tracker mortgage, well you can try anything but no bank will do that. You are basically taking out a new mortgage on a new property

0
#3 28-11-2016 12:47pm

Trish56

Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭

Join Date: November 2012

Posts: 1244

You cannot transfer any mortgage to another property. Once you sell the property the mortgage must be cleared from the proceeds. You can however depending on your lender transfer the tracker rate to a new property subject to terms and conditions. Lenders usually add on approx. 1% onto the existing rate and this rate is only applicable on the o/s mortgage and o/s term. Contact your lenders for more information as they all differ.

0