# BOI not taking customers off trackers if they rent their house



## Tailspin (1 Nov 2010)

According to Fiona Reddan today in her article "To Rent or not to Rent" she says:

"According to Bank of Ireland, for example, in circumstances whereby a borrower rents out their PPR, the mortgage customer can still remain on their tracker rate unless they choose to move to a different product"

This is quite a big statement. Has anyone received this confirmation in writing? Is this common knowledge? If so my sense is BOI is not being generous here, more likely their mortgage contracts must not allow them to make changes to ts and cs.

Can anyone shed any light on this as we're one of those boi tracker mortgage holders living in a 2 bed apartment with 2 kids, and really need a bit more space, but are terrified of losing the tracker!


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## Brendan Burgess (1 Nov 2010)

This has been discussed in many other threads on askaboutmoney.

What is interesting is a quote from Bank of Ireland on the topic.


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## NorfBank (2 Nov 2010)

Only BOI can answer this, give them a call.


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## argentina (2 Nov 2010)

Seems very strange that BOI will allow this.  I have a mortgage with EBS and was told I would certainly lose my tracker if the property discontinued to be my PPR.
Slightly changing the subject I thought the article overall was very poor. She made (at least) 2 misleading points one being that if mortgage interest rates go up that the percentage of your mortgage covered by the rent would decrease; this point is irrelevant as if you remained living in the house this would affect you equally and has nothing to do with renting the property per se.
The other weak point was that she gave the €70 PTRB charge as an example of the charges that landlords must incur; she never mentioned the €200 NPPR tax which is almost certain to increase in the comming budget.


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