# Retain Tracker for New Morgage



## broomfield (18 Oct 2012)

Tracker 

Hi there, 

I hope this is the correct forum for my query as we are about to sign contracts on new mortgage this week.


We requested to retain our tracker on amount outstanding and apply  variable rate to additional borrowings of a new mortgage but this was  refused by the bank (one of the pillar banks). Under what circumstances  can a tracker be retained ? What is the business case to put forward to  influence banks ?


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## wbbs (18 Oct 2012)

I don't know of any case you can make, there is no reason why the bank would allow you keep it, you are closing the tracker mortgage account and taking out a new mortgage at today's interest offerings on a different property.  I don't think there is any argument to be made that would make them allow you keep it.


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