Hi
Has anyone had any luck in transferring their Tracker Mortgage with BOI, we took our loan out in 2007 and we are now in negative equity but now 3 kids later we really need to upgrade to a larger property, fortunately we have family that are willing to provide the additional capital to upgrade, therefore we do not want to increase or decrease our loan amount just simply transfer it to another property & at least the Bank will now have an asset on their books that will be in a lot less negative equity. so far the Bank have firmly refused. Has any one had better luck with them or any advise.
By the way we cant move out and rent as we would still have to heavily subsidise out mortgage and therefore the new rent and mortgage repayments would be more than our current mortgage, also we cant afford to move to a new variable mortgage. Basically we are keeping up current repayments with out any problems but could not possibly afford a penny more.
Has anyone had any luck in transferring their Tracker Mortgage with BOI, we took our loan out in 2007 and we are now in negative equity but now 3 kids later we really need to upgrade to a larger property, fortunately we have family that are willing to provide the additional capital to upgrade, therefore we do not want to increase or decrease our loan amount just simply transfer it to another property & at least the Bank will now have an asset on their books that will be in a lot less negative equity. so far the Bank have firmly refused. Has any one had better luck with them or any advise.
By the way we cant move out and rent as we would still have to heavily subsidise out mortgage and therefore the new rent and mortgage repayments would be more than our current mortgage, also we cant afford to move to a new variable mortgage. Basically we are keeping up current repayments with out any problems but could not possibly afford a penny more.