# Will I lose my Certus tracker if I rent out my former home?



## Gusdaddy13 (27 Feb 2013)

Hi 
I currently have a tracker mortgage with Certus, this is the business who are managing Halifax / BOSI mortgage customers in Ireland.
I bought a 2 bed town house 7 yrs ago when I was single. I'm now married with 2 kids, and the townhouse is too small. The property is circa 140k negative equity, so we are effectively trapped. The only option is to rent it out and rent a House, problem is I'm worried I'll loose the tracker rate.
Any advice welcome.

Thanks


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## LDFerguson (27 Feb 2013)

I don't think Certus have any other products to move you onto, so I think you'll get to keep your tracker, but you should check with them.


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## mrblues (27 Feb 2013)

I've called them a few times to confirm that they would not remove our tracker if we rented the property and each time they have confirmed it.

Will not put in writing however, which I ask for every time.


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## WizardDr (27 Feb 2013)

@mrblues - an oral statement is just as valid as a written one though more difficult to prove, hence your concern.

Write to Joe Higgins, CEO, Certus - tell him how wonderful his staff are and that you just want to confrm that your understanding of what they told you was that you could retain the tracker mortgage on renting out your house.

All that happen is that he then writes back and says NO or YES but you will get an answer.


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## mrblues (27 Feb 2013)

WizardDr said:


> @mrblues - an oral statement is just as valid as a written one though more difficult to prove, hence your concern.
> 
> Write to Joe Higgins, CEO, Certus - tell him how wonderful his staff are and that you just want to confrm that your understanding of what they told you was that you could retain the tracker mortgage on renting out your house.
> 
> All that happen is that he then writes back and says NO or YES but you will get an answer.



Cheers @WizardDr - I will actually write to them if I do end up renting out. I already have noted the date, time, persons name and position of each of the calls as 'some' backup if it was ever required.


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## Gusdaddy13 (27 Feb 2013)

Thanks for the feedback, I actually called them today,
The guy I spoke to said as far as he knows they would not take us off the tracker, however he suggested  I write to them outlining what we propose to do.


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## cofee (10 Mar 2014)

Hi Gusdaddy

I have the exact same issue. I have rung certus twice and the 2 different people I spoke to said I would have to take out a new mortgage with another bank if I wanted to do this?  When I said to the second girl I didn't quite understand this she hung up on me. All I said was that we needed to move and were thinking of renting the house out and that's the response I got? 

Im surprised I'm getting a different response to you. Am I asking the right questions.


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## WizardDr (10 Mar 2014)

Keep on asking and they may take you off.

Record your phone conversation and put it in writing if you want.

A verbal contract where the person says its fine is the end of it.

Take a note of it.  But keep asking them and they will take it away.

You might be asking too many!


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## cofee (10 Mar 2014)

Thanks for getting back to me wizarddr. Hadn't realised how old the thread was. 

So you think I should just leave contacting the bank? 

Was gonna just do that.

 I just don't understand why they would say I would have to take out a new loan. All I thought might be the result would be they would take the tracker off us.


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## WizardDr (10 Mar 2014)

@cofee

If you take out a new loan it certainly wont be a tracker, that is why.

You need to look at your letter of offer and what it says.

There may be a clause that loan was for property that you occupy - the term may be strong or weak. It could be strong in relation to the original requirement that you occupied the property as your principal residence. It may be weak when being silent or limited to when circumstances change.

Its just if I was a bank I would want you to get off the tracker.


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