Joint mortgage ownership transfer keep tracker?

Discussion in 'Tracker mortgages - other than redress issues' started by simong, Sep 13, 2018.

  1. simong

    simong New Member

    Posts:
    1
    Hi,
    I own a property jointly with a friend on a tracker + 0.9% - he lives in it as his PPR I have not done so for years.
    AIB have finally agreed to let him take on the whole loan at market value effectively taking me off the loan and deeds.
    I have received conflicting advice from AIB as to whether I can take my element of the loan with me for my next purchase at +1% current rate.
    As there is no actual sale does it apply to my portion?

    Thanks!
     
  2. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    35,476
    So you have a mortgage of €200k between you.

    A) Your friend is getting to keep the mortgage of €200k at the tracker rate?

    B) Or are you saying that they will give him a mortgage of €100k at tracker and give you a further €100k at tracker +1%?

    I would think that A is the most likely outcome and your friend should compensate you accordingly.

    Brendan