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Porting Mortgage

  • 01-08-2017 02:59PM
    #1
    calgary bound
    Registered Users, Registered Users 2 Posts: 149 ✭✭


    Hello

    My husband and I got a mortgage from BOI in 2015 for €130,000 on a property worth €220,000. This house is currently worth €245,000 and we would like to consider moving location. We are happy with our term and interest rate, is it possible to port this mortgage to another property  (no increase in loan amount) or  would we have to repay this mortgage and reapply again for a new mortgage? 

    Many thanks. 


Comments

  • #2
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    calgary bound wrote: »
    Hello

    My husband and I got a mortgage from BOI in 2015 for €130,000 on a property worth €220,000. This house is currently worth €245,000 and we would like to consider moving location. We are happy with our term and interest rate, is it possible to port this mortgage to another property (no increase in loan amount) or would we have to repay this mortgage and reapply again for a new mortgage?

    Many thanks.

    Hi calgary bound,

    Thanks for getting in contact with us through Boards.

    I can confirm that if you are moving property the existing mortgage would need to be paid off and a new mortgage would have to be taken out for the new property. I have given a link here where you can apply for a mortgage online or arrange a call back from one of our mortgage advisers to discuss this with you. You can also call our mortgages section directly on 1890 365 345 and any of the advisers there will also be able to discuss this with you.

    Thanks again,
    Darren.


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