would like to get interest only for 12 months

P

pem

Guest
starting to run into money issues and am keen to get my tracker repayment to 12 months (at least) interest only. my worry is that the bank will switch my rate of interest to a higher rate than my current tracker. is this the case and has anyone been successful in doing this? do i just call into my aib branch and get an appointment with a mortgage advisor there? what details would they need. basically separating from my relationship and need some breathing space.....
cheers
 
As far as I know, the banks can't touch your rate unless you choose to change it and sign the relevant documentation etc to do so. My sister rented out her house a few months ago so she could move back to Dublin and there was no issue in keeping her tracker rate with her lender (UB) when she told them the house was rented. She also got confirmation in writing that it wouldn't change so maybe you could ask AIB for the same to put your mind at rest?
 
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