Bank sold our mortgage to a vulture fund

[Bennes]

Hi,

Our bank recently sold our mortgage to a vulture fund.

We are thinking of fixing our interest rate before they move us.

Currently we are on a Tracker Rate of 5.25%. The bank has offered us either a variable rate of 3.9% or 1-10 year fixed rate of between 3.9% to 4.1%.

The LTV rate is >60%.

I know the vulture fund doesn't have tracker or fixed rates, so I'm wondering is it better to go into them with a lower interest rate, or leave it at 5.25%.

Thanks

 

[RedOnion]

I know the vulture fund doesn't have tracker

If you have a tracker, this must be honoured once mortgage transfers, so you'll keep your tracker unless you move to something else.

 

[Brendan Burgess]

Find the appropriate post in this forum.

Tracker mortgages - other than redress issues

Do not ask tracker redress questions in this forum.

www.askaboutmoney.com

Provide all the relevant information
And you will get a meaningful answer.

Brendan