Bank sold our mortgage to a vulture fund

Hi,

Our bank recently sold our mortgage to a vulture fund.

We are thinking of fixing our interest rate before they move us.

Currently we are on a Tracker Rate of 5.25%. The bank has offered us either a variable rate of 3.9% or 1-10 year fixed rate of between 3.9% to 4.1%.

The LTV rate is >60%.

I know the vulture fund doesn't have tracker or fixed rates, so I'm wondering is it better to go into them with a lower interest rate, or leave it at 5.25%.

Thanks

Bennes said:

I know the vulture fund doesn't have tracker

Click to expand...

If you have a tracker, this must be honoured once mortgage transfers, so you'll keep your tracker unless you move to something else.

Find the appropriate post in this forum.
Provide all the relevant information
And you will get a meaningful answer.

Brendan