I think this must be an issue for a lot of people now.
We have an apartment that we had to rent out (about 3 years now) as we had to emigrate.
We are now back permanently living in Ireland and because the apt is too small with 2 kids we wish to continue to lease it and rent a bigger place.
Because its a tracker...we want to keep it through the tracker retention programme and buy a house for our growing family! (Ours is with AIB)
I know there is a sticky about potentially losing your tracker if you rent it, but no one really seems to actually have lost their tracker, even when the TRS got cancelled and the bank knew about it. Now that a lot of us are needing to sell these apartments with trackers and have rented them - where do we stand when we go to get a new property?
We ve a meeting AIB this week and Im thinking we should cancel meeting with them until I find out more surrounding this.
From AIB site......Tracker Retention: Key features and eligibility requirements
Tracker Retention is only available to existing AIB mortgage customers with a tracker interest rate on their principal private residence and who are not experiencing difficulties making their existing mortgage repayments
I guess the issue is....do we have to be in the property at the time of sale and in the months leading up to it in order to avail of AIBs tracker retention. Surely there is a lot of families that have moved out of their PPRs because of changing circumstances and now wish to sell them but keep the tracker.
Thanks for all assistance.
We have an apartment that we had to rent out (about 3 years now) as we had to emigrate.
We are now back permanently living in Ireland and because the apt is too small with 2 kids we wish to continue to lease it and rent a bigger place.
Because its a tracker...we want to keep it through the tracker retention programme and buy a house for our growing family! (Ours is with AIB)
I know there is a sticky about potentially losing your tracker if you rent it, but no one really seems to actually have lost their tracker, even when the TRS got cancelled and the bank knew about it. Now that a lot of us are needing to sell these apartments with trackers and have rented them - where do we stand when we go to get a new property?
We ve a meeting AIB this week and Im thinking we should cancel meeting with them until I find out more surrounding this.
From AIB site......Tracker Retention: Key features and eligibility requirements
Tracker Retention is only available to existing AIB mortgage customers with a tracker interest rate on their principal private residence and who are not experiencing difficulties making their existing mortgage repayments
I guess the issue is....do we have to be in the property at the time of sale and in the months leading up to it in order to avail of AIBs tracker retention. Surely there is a lot of families that have moved out of their PPRs because of changing circumstances and now wish to sell them but keep the tracker.
Thanks for all assistance.