Lumpsum payment to Bank of Scotland

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fluffy47

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We currently have an outstanding tracker mortgage of 290k with Bank of Scotland. We are keen to make a lump sum payment of approx 55k against the amount owed. We also would like to renegotiate the repayments to 1500k a month which is higher than what we currently pay and would like to agree to continue paying that amount if the ECB reduces interest rates.

Do we risk losing our tracker by prepaying on our loan and by requesting the minimum payment of 1500k per month?

Thanks in advance
 
fluffy47 said:
Do we risk losing our tracker by prepaying on our loan and by requesting the minimum payment of 1500k per month?
Click to expand...

I could guess, but I don't know the answer to your question. Neither does anyone else who has not seen your mortgage documentation.

What rate is your tracker. It may be a very poor financial decision to repay a BOS tracker.
 
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