# Discount for moving off interest only tracker



## Dave Byrne (18 Aug 2019)

I have 7 years left on a Pepper Interest Only BTL tracker mortgage @1.35. If I proposed a move to a capital and interest mortgage (over, say 20 years) would a) Pepper have interest in offering a restructered loan and b) possibly offer me a better than market rate (of say 5%) as it would improve on their current return?


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## Brendan Burgess (18 Aug 2019)

Say you owe €100k which will cost you €1,350 a year for the next 7 years. 

You are offering to instead pay €5,000 a year in interest. 

Why would you voluntarily pay an extra €3,750 a year? 

So that you would get an extra 13 years to pay it off? 

I think you need to do a Money Makeover as it seems you are not thinking very clearly about your overall financial position. 

Brendan


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## Dave Byrne (19 Aug 2019)

I get the question. The why is because I’m applying for a new mortgage elsewhere and one of the new banks provisos is that I switch to a capital and interest repayment schedule on my BTL.


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