Tracker retention mortgage advice?

[May Margaret]

I am moving house and only have 4 years left on my tracker so have the option of taking up a AIB tracker retention mortgage for that portion of my new (larger) mortgage. However as the term for my current house is only 4 years (and the rest of the mortgage will be 13 years) the repayments will be 600 euro more than if I was to have a standard variable rate for the entire mortgage. But over the full term I will be 9k poorer off due to the highest rate of the variable interest. Before I decline the tracker retention option, due to the cost of the repayments in the shorter term, does anyone have any advice as to other options? I hate to give away such a large amount to the bank but I cannot afford the additional repayments with this particular offer. Is there another option with a different bank or another solution?

thanks

 

[rodger]

Hi

Could you persuade Aib to give you 4 years interest only on the variable portion.
And do a tracker retention