Hi,
Have a question I'm hoping you can help with. We are arranging a swap with a builder - he is taking our house, we are taking his. We have a tracker mortgage with the bank. We do not want to lose the tracker or be forced to take a fixed or variable rate. We are not requesting more money or a change in the duration, just a transfer from our current house to the new house. Initial comment from the bank was we would have to give up tracker. Some people have mentioned to me that we should be able to move from one to the other without being forced to change the mortgage itself. Can anyone advise or help here? Thanks for any help or comments provided.
Have a question I'm hoping you can help with. We are arranging a swap with a builder - he is taking our house, we are taking his. We have a tracker mortgage with the bank. We do not want to lose the tracker or be forced to take a fixed or variable rate. We are not requesting more money or a change in the duration, just a transfer from our current house to the new house. Initial comment from the bank was we would have to give up tracker. Some people have mentioned to me that we should be able to move from one to the other without being forced to change the mortgage itself. Can anyone advise or help here? Thanks for any help or comments provided.