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Extending the term of a tracker mortgage

  • 05-12-2011 08:57PM
    #1
    Penguino
    Registered Users, Registered Users 2 Posts: 162 ✭✭


    Has anyone any experience going to the bank and extending the term of their tracker mortgage? I want to reduce the payment by extending the term but hold onto my tracker, is it possible?

    I will be asking the bank this question soon but wanted to get some feedback first.

    Thanks


Comments

  • #2
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    Are you currently having trouble in making your payments, has there been a change to your employment status?

    Contact them, they may be in a position to work with you if you in trouble (or soon likely to be in touble). However if your meeting your payments and simply want to reduce your outgoings, you may not have much luck.


  • #3
    Penguino
    Registered Users, Registered Users 2 Posts: 162 ✭✭Penguino


    Thanks for the heads up


  • #4
    cookie1977
    Registered Users, Registered Users 2 Posts: 6,794 ✭✭✭cookie1977


    Look here too:
    www.keepingyourhome.ie

    If you're working with them the banks just can get rid of your tracker if you're in trouble under the code of conduct for mortgage arrears.


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