# Will I get a discount for early repayment of my tracker?



## Greenstreet (4 Oct 2013)

Hi there, first time poster here, hope I might be able to pick some brains. 
We have a mgt on our property which is in neg equity, balance of 270K, value of probably c. 190k if we are lucky. Its 5 yrs in to a 35 year term and we have a tracker of 1.45%. We are now looking to move on to a bigger place and was wondering if the bank will give us a discount to settle the mortgage in full? If so how much of a discount should I be looking for? My thinking is that by us staying on the tracker, we are costing the bank X amount every year for the next 30 years, they might give us a deal to get it paid off. 
Any thoughts? 
Very much appreciated.


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## Luternau (4 Oct 2013)

As far as I know, no banks are doing this. The question has been asked here before and those that asked their banks about discounts were told no!
From their point of view, if you are paying your mortgage, they will expect you to continue to pay it-in full!


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## Greenstreet (4 Oct 2013)

Thanks a mill for reply. I did have a read through some other posts I managed to find here, but some are a bit dated now and with the recent cut in rate back in June, I thought maybe the banks might change their tune a little... maybe I give them too much credit! But its worth asking the question. I will pick up the phone on Monday and ask the question. Hopefully I can get talking to someone with a bit of cop on and see what happens.  
Thanks again!


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## Rsa17 (10 Feb 2014)

Any luck with that. Tried BOI a few months ago but no joy


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## SINED (10 Mar 2014)

I tried to pay off mt Tracker with Ulster Bank 2 Years ago and again in Jan 2014 they did not even have the courtsey to answer my letters


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## serotoninsid (10 Mar 2014)

I was seriously interested in pursuing this - and asked my bank a couple of times in the past but they were not interested.  Despite them leaving the market, I still don't think they'll bite.  

Have come around to working on the basis that more than likely, mortgage will go the full course.  However, perhaps its just as well.  No deal will fully compensate for the value of such cheap financing.


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## WizardDr (10 Mar 2014)

The opportunity cost of a tracker means to pay it off, your alternative ( eg investment) could be poor, or you just haven't looked at it.

Keep the tracker going and invest in something else.


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