Hi all
I'm currently reflecting on where I'd like to live in a few years time. I'd like to move house to a better area some time in the next couple of years and I'm not sure how to approach a move without losing a valuable tracker.
I have 2 tracker mortgages:
Current residential house: tracker of 0.75% over ECB with the former Bank of Scotland Ireland, now Pepper. No option to move my tracker to another property as they are only now servicing existing mortgages.
Investment property: smaller property, rented out since I moved to my current house. Interest only investment tracker of 1.15% over ECB with Ulster Bank, 10 years left on mortgage.
What are my options if I were to sell my current PPR and move but use my UB tracker to switch? Do UB allow switching of an investment tracker?
Would I have to physically move back in to my investment property, apply to have it converted back to a residential tracker and then consider moving after a couple of years? Would I even get a residential tracker with UB?
All advice gratefully received, many thanks.
I'm currently reflecting on where I'd like to live in a few years time. I'd like to move house to a better area some time in the next couple of years and I'm not sure how to approach a move without losing a valuable tracker.
I have 2 tracker mortgages:
Current residential house: tracker of 0.75% over ECB with the former Bank of Scotland Ireland, now Pepper. No option to move my tracker to another property as they are only now servicing existing mortgages.
Investment property: smaller property, rented out since I moved to my current house. Interest only investment tracker of 1.15% over ECB with Ulster Bank, 10 years left on mortgage.
What are my options if I were to sell my current PPR and move but use my UB tracker to switch? Do UB allow switching of an investment tracker?
Would I have to physically move back in to my investment property, apply to have it converted back to a residential tracker and then consider moving after a couple of years? Would I even get a residential tracker with UB?
All advice gratefully received, many thanks.