Split tracker mortgage or full new mortgage???


New Member
Hi there,

I'm wondering if you can offer some advice on moving from a tracker mortgage of ECB +2% to a new mortgage as we are moving house. The new mortgage will become a split mortgage for us to retain our tracker. The tracker section will increase to ECB +3% (PTSB adding 1% to it) while the other portion of the new mortgage will be at a 5yr fixed rate.

We are wondering do we go with the split new mortgage or just leave go of the tracker and have one combined mortgage? If we have only one mortgage we can avail of the banks offer of 2% cash back and also extend the term of it to reduce monthly repayments as we cant change our tracker section at all. Its a tracker +3% for the full remaining term. However, are they short term gains and are we better to keep hold of the section of the new mortgage that is tied to the ECB to protect ourselves from extremely high rates into the future?

Your advice would be greatly appreciated.

Brendan Burgess

A difficult question.

I really don't think that a tracker of ECB +3% is that attractive.

Given that ptsb is the worst lender to do business with, I think you should shop around and go for some other lender.

The Ulster Bank rates are probably the best at the moment.