New mortgage on investment properties

[TJK]

I have an investment property (house) rented out. The mortgage is with the INBS. The interest rate (variable) has always appeared to be excessive over the last number of years. I was holding out for the payout which is now unlikely to happen.

My wife has also an investment property (house) rented out. Her mortgage is with the NIB. Her interest rate (variable) also appears to be excessive.

There are about 10 years repayments left on each mortgage.

We are considering taking out one mortgage for the 2 houses. Total joint balance outstanding between the 2 houses circa 70k.

What are the options open to us. Are there any banks doing a tracker rate currently.

Any assistance welcome

Tjk

 

[twofor1]

NIB’s investment variable is their standard variable currently 4.9%.

Although they have not yet done so, they have said they will be passing on the recent ECB .75% reduction, if they do, this would give a standard variable rate of 4.15%.

According to the INBS website their variable for investment mortgages is currently 6.49%, this might be excessive, but I think Mrs. TJK is getting a good deal with NIB.