I contacted Ulster Bank Securities dept in Leopardstown approximately 5 years ago and was told I could replace security on an existing BTL tracker mortgage (First Active originally)for a higher value property. I contacted them recently but got a negative response from front line. I am reposting this in the hope that someone has gone thru similar process with Ulster Bank or any other financial institution and what the process was. Approximately 250k outstanding from original advance 310k tracker ECB+1% 12 years to run with Ulster Bank repayments always up to date. Approx. Existing Security: Investment House 300k Investment Apartment 100k (original purchase price 270k) Proposal: Replace security of apartment (100k)with another unencumbered Investment residential property 300k. Possibly request replacement security limited to 100k as this would give the same security of 400k on 250k balance. At worst allow full security(investment residential house + investment residential house) 600k to UB total security. This would leave Ulster bank in a much stronger position 42% LTV proposed rather than LTV 62.5% existing. Has anyone replaced/released the assets of an Ulster tracker mortgage with an asset of same or higher value as above without effecting the rate?