If I want to remortgage will I lose tracker?

[TableEnd]

I want to borrow 10000 and thought the best way would be to remortgage. The money is for home improvement/extension.
I have a tracker at 2.25 +ECB will I lose this if I choose to remortgage?

 

[Brendan Burgess]

Yes, probably.

Have you asked your lender?

Which lender is it?

 

[Macstuff]

You might find that the banks are unwilling to do a remortgage for such a small amount.
I imagine that they'd want you to give up your tracker before they would consider this.
If you did take 10k on a mortgage you'd probably end up paying more in the long run than if you borrowed it on a term loan of say 5 years i.e. the interest would be charged over a longer period on the mortgage than on the term loan.

 

[wbbs]

Can you get it as a separate top up loan which will be at new rates but will run to the end of the original mortgage term.

 

[TableEnd]

might try that or the CU

Thanks