Advertisement
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
If we do not hit our goal we will be forced to close the site.

Current status: https://keepboardsalive.com/

Annual subs are best for most impact. If you are still undecided on going Ad Free - you can also donate using the Paypal Donate option. All contribution helps. Thank you.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.

Move Mortgage to another bank?

  • 09-05-2016 10:15PM
    #1
    tendjose
    Registered Users, Registered Users 2 Posts: 295 ✭✭


    Hi,

    If you are on negative equity will you be allowed to move your mortgage to another bank?

    Thanks


Comments

  • #2
    phormium
    Registered Users, Registered Users 2 Posts: 3,505 ✭✭✭phormium


    No. It's not really just moving a mortgage, you will be applying to a lender for a brand new mortgage on their terms and conditions and as you are in negative equity then you would need to borrow more than 100% of the house value and no lender is going to take you on in that situation.

    Most switcher mortgage options would be limited to needing less than 80% of the house value as the mortgage.


Advertisement