Will Ulster Bank do anything for us

[Frank Underwood]

Hi Folks,

We need to move, our house is too small for our growing family. No option to extend etc. We have a very cheap tracker. The mortgage is in my spouses name. My spouse is currently a stay at home parent and will be for another 3 years at least. For our new home I will be the applicant. I am a first time buyer. Would they do anything for us to get us off the cheap tracker? My name is not on the mortgage as my spouse was single when the mortgage was taken out.

We are going to move from city to country and will be keeping our debt at pretty much the same amount give or take 10-20k. It’s fairly sickening to see the jump in repayments at the current rates. We will be paying around €300 more per month with the current term and €450 more per month if we knock five years off the term, which we will want to.

My gut is that they won’t because I’m not on the original mortgage. Anyone have any idea either way. Thank for reading.

 

[Blackrock1]

first point, if you are married then you arent a first time buyer, sorry your wife has already used the benefit and you wont get a mortgage alone when married.

regarding moving the tracker, you can ask them, best case it will be some deal where they add a percent and let you keep it for 5 years or something.

 

[RedOnion]

You could ask UB what current policy to get your name added to existing mortgage. They used to make you reapply, and then you'd lose tracker. That might have changed in light of the whole tracker review.

 

[Frank Underwood]

Thanks for the replies. Will touch base with UB and see where we stand