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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 10:59am

#1

jackostone

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Join Date: August 2006

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

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Comments

#2 25-11-2016 2:47am

skippy2

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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

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#3 28-11-2016 11:47am

Trish56

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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.

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