Ulster bank 'home mover' mortgage

fun

Registered User
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31
Hi,
Can I get some advice please. I've a tracker with UB, and want to move house. If we move, the new house price will require a balance of max $100k.

THe UB home mover package means that we will loose this tracker, and be on a mid rate between tracker and current standard variable rate for the first 5 years. The current rate will be applied on the €100k.

Is there anyway we can keep the tracker on the original mortgage and pay current rates on the balance? Any tips to use as negotiation with the bank?
THnaks a mil
 
In the same boat as you and I'm holding out hope that they'll change the conditions on their Home Mover product. It's not terribly attractive at the moment and I doubt they've had too many takers. If it was to change to be something like BOI or AIB I'd snap their hands off. As it stands I'll probably look at getting a second mortgage and renting out my current home to keep the tracker.
 
Yes, I thought about renting our house out and keeping the tracker on it also as an 'investment'.. but we rented it out before and there is an awful lot of negatives to dealing with tenants. However, the rent we could achieve would be significantly higher than the mortgage.

AIB and BOI (or anyone else) don't want tracker clients from other branches.. for obvious reasons. If you switch then it will be on their terms. They might consider a switch using property a as the basis of a new mortgage.
 
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