Residential tracker mortgage ptsb

L

LByrne

Registered User
Messages
75
Hi

Amy advice would be great.

I currently have a tracker mortgage with PTSB. The apartment is in negative equity and I plan to rent out and buy a house as family is getting bigger not enough room.

I want to apply for a mortgage with a different lender and NOT ptsb. My question is will the new lender for second mortgage inform PTSB that I am going for a second mortgage therefore losing tracker?
Or does anyone know if the terms and conditions of residential tracker mortgage taken out in 2009 allows to rent property and retain tracker?
Anyone have any experience with this or any advice
 
1) I don't think that the ptsb mortgage says you will move to an investment rate if you rent out your property. Even if it does, ptsb is not enforcing this.

2) Why don't you just sell your home and move the tracker to the new property? You will pay an extra 1% but it will be a lot simpler.

Brendan
 
I am a foreign currency mortgage applicant so can't go with ptsb so won't be able to move mortgage. I just wondered if I go to another lender they will infirm ptsb?
 
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