tracker mortgage,a bargaining tool?

[fredg]

hi,

just wondering is a tracker mortgage a bargaining tool in getting

an extension loan on my property?

ive heard that a tracker is now worth 16% of the value of the mortgage, so for argument sake, say i said i'll give up my tracker for an extension, are banks listening to these type of queries?

im not naive,it wont be given up lightly.

im not in negative equity.

sorry if im going over old ground here

fred.

 

[emeralds]

I would say no.

 

[Joe_90]

Are you asking if the bank would lend you an extra €50k and for doing so you would sacrifice your tracker.

So you are paying 1.5% on possibly 200k and now you will go to 4.5% on 250k.
Annual interest 3000 to annual interest of €11,250????

 

[Nora]

Keep your tracker at all costs....your long term savings will be huge even if the interest rates go up, which they inevitably will.

 

[Brendan Burgess]

Hi Fred

I presume you are looking for a term extension on your current loan ( as distinct from looking for an additional loan to build an extension)?

Where did you get the 16% figure from? I have set out the factors and a valuation methodology here:

What is a fair price for paying off a tracker early?