Hi guys!
Posting on behalf of a family member..
Person owns 2 homes on the same street. One is their main residence, the other is rented.
They decided to sell their rented home which is currently on a tracker mortgage.
The house is sale agreed and contracts should be signed and monies exchanged within the next month.
They have no mortgage on their main residence.
They would like to transfer the tracker mortgage on the home they are selling to their current main residence. It's a small mortgage - less than 100k left.
They are wondering if they transfer the mortgage will they lose out on their tracker? AFAIK they are with Permanent TSB.
They would not be looking to top up the mortgage nor extend it - they would be paying the same amount monthly, just on a different house, they would not be altering any other terms.
They reckon that if they were to lose their tracker that their mortgage repayments would shoot up over E200 per month.
Is it possible to keep the tracker in this instance?
Appreciate any replies, as I honestly haven't got a clue in this regard.
Posting on behalf of a family member..
Person owns 2 homes on the same street. One is their main residence, the other is rented.
They decided to sell their rented home which is currently on a tracker mortgage.
The house is sale agreed and contracts should be signed and monies exchanged within the next month.
They have no mortgage on their main residence.
They would like to transfer the tracker mortgage on the home they are selling to their current main residence. It's a small mortgage - less than 100k left.
They are wondering if they transfer the mortgage will they lose out on their tracker? AFAIK they are with Permanent TSB.
They would not be looking to top up the mortgage nor extend it - they would be paying the same amount monthly, just on a different house, they would not be altering any other terms.
They reckon that if they were to lose their tracker that their mortgage repayments would shoot up over E200 per month.
Is it possible to keep the tracker in this instance?
Appreciate any replies, as I honestly haven't got a clue in this regard.