How Safe Is My Tracker

[adox]

So I'm half way though my mortgage currently with BOSI on a tracker. Was listening to, well caught the tail end of an interview on the way home with Niall Brady of The Irish Times and heard him mention that the likes of BOSI will be offloading residential mortgages to Vulture funds, who will be able to charge whatever rate they wish on sold mortgages.

So I guess I'm asking is my mortgage at Rio of being offloaded to a vulture fund or similar and if so is my tracker agreement protected?

 

[MrEarl]

It won't matter if BoSI sell on your mortgage to another party or not.

Ultimately, what matters is that the counter party is legally obligated to abide by the terms of the loan contract, as long as you do. As such, as long as you comply with the terms of the loan agreement and the loan agreement refers to your lending rate as specifically being a set margin over the ECB rate, then your Tracker is safe.