I spoke to KBC and got the following information on their tracker mover
1) It is live. People can apply for it now and be approved
2) They charge an additional 1.25% on the tracker element for the remaining term of the tracker
3) People in negative equity can apply
4) Trade up maximum LTV is 125%
5) Trade down maximum LTV is 175%
6) The borrower must have 10% of the purchase price. This would need to be cash for someone in negative equity. But someone in positive equity who sells their home would presumably have 10% of the purchase price of a new house from the sales proceeds.
What is the procedure?
You apply for a mortgage in the normal manner.
If you meet the earnings criteria, they will give you Approval in Principle
If your loan has been restructured recently, you are not likely to qualify for a new mortgage
You can then sell your house.
When you buy your new house they will give you a new tracker
There is no time limit between selling your own and buying a new house, however, Approval in Principle expires after 6 months. So if your earnings change in the meantime, you might not be approved for a loan