Bought a home in 2002 for 420K, now have mortgage outstanding of 315K. Have a tracker mortgage from Ulster Bank, which is 1.05% above the ECB rate (This rate is for mortgage >60% of value).
I'm pretty sure the value has increased enough since 2002 so that now have a mortgage of <than 60% of the value & as such the rate should be 0.85% above the ECB rate.
Has anyone gone to the banks about this before? Do I need to get a valuation?
I'm pretty sure the value has increased enough since 2002 so that now have a mortgage of <than 60% of the value & as such the rate should be 0.85% above the ECB rate.
Has anyone gone to the banks about this before? Do I need to get a valuation?