Hi
We were on a 5yr fixed rate with Permanent TSB, rolling onto a .8% tracker. We requested an interest only for a period of time which they said was not possible. We explained that we needed to reduce the repayments. They said we could exit the fixed rate (we had 3yrs left) but we would lose our tracker rate. We decided that this was the best and only option and exited our fixed. I have since been told that banks have allowed people to go interest only on fixed mortgages without losing their tracker terms. Is this true? Would we have chance of having our tracker terms reinstated?
Appreciate any feedback
We were on a 5yr fixed rate with Permanent TSB, rolling onto a .8% tracker. We requested an interest only for a period of time which they said was not possible. We explained that we needed to reduce the repayments. They said we could exit the fixed rate (we had 3yrs left) but we would lose our tracker rate. We decided that this was the best and only option and exited our fixed. I have since been told that banks have allowed people to go interest only on fixed mortgages without losing their tracker terms. Is this true? Would we have chance of having our tracker terms reinstated?
Appreciate any feedback