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Help on Tracker Mortgages

  • 18-08-2020 7:59pm
    #1
    Primrose73
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi all,
    Looking for advise on my tracker for mortgage. I'm looking to trade up from smaller place but unsure what the best course of action is. Might need to borrow 1/3 the original amount to get house. Am i right in thinking the tracker stays on the old amount? Also do banks buy out people on tracker rates? Any advise please?


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 14,026 ✭✭✭✭Geuze


    Some banks allow the tracker balance to be ported to the new mortgage, with a higher margin, for a period of time.

    Policies differ between banks.

    Banks do not offer discounts on redeeming tracker mortgages - this question has been asked hundreds of times on AAM, and the answer is always the same - it doesn't happen.


  • #3
    Primrose73
    Registered Users, Registered Users 2 Posts: 2 ✭Primrose73


    Thank you
    Geuze wrote: »
    Some banks allow the tracker balance to be ported to the new mortgage, with a higher margin, for a period of time.

    Policies differ between banks.

    Banks do not offer discounts on redeeming tracker mortgages - this question has been asked hundreds of times on AAM, and the answer is always the same - it doesn't happen.


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