I currently have a tracker mortgage +0.5% over ECB(very lucky I know) and I'm thinking of upgrading my property. As I know I have a very good rate I don't want to lose it. The amount of mortgage will remain the same if I move. I'll be using savings to fund the differenct. What I'd like to know is would a bank allow me to keep my current mortgage rate but on a different property, or would they insist on a new mortgage rate for a different property?
The LTV would decrease to under 45%. From about 50% now.
The LTV would decrease to under 45%. From about 50% now.