Hi,
Two questions for consideration:
1. What is KBC's policy on moving a tracker mortgage to a new PDH home? I see other banks add 1% premium to the rate, all other terms (balance, remaining term) remain intact. KBC does not appear to have their policy on their website (unless I have missed it), but other banks do.
2. If the current tracker mortgage is joint and several, the current home will be sold, and only one of the borrowers wishes to retain the tracker (i.e. the second borrower would just be gone) on the new home, are they likely to be able to retain the full tracker balance? Case example: tracker mortgage has 400,000 euro remaining, and Borrower A would like to fully utilize the tracker for a new PDH home purchase of (say) 600,000 euro. Borrower B has no desire to purchase a new home and doesn't need their "share" of the tracker.
2A. Extension to question 2, but would the bank instead only allow a split, i.e. Borrower A and B go separate ways, and each gets to keep 200,000 euro of tracker rate with bank?
Hope that's clear, just trying to figure out options. Appreciate any guidance or experience in this regard.
Two questions for consideration:
1. What is KBC's policy on moving a tracker mortgage to a new PDH home? I see other banks add 1% premium to the rate, all other terms (balance, remaining term) remain intact. KBC does not appear to have their policy on their website (unless I have missed it), but other banks do.
2. If the current tracker mortgage is joint and several, the current home will be sold, and only one of the borrowers wishes to retain the tracker (i.e. the second borrower would just be gone) on the new home, are they likely to be able to retain the full tracker balance? Case example: tracker mortgage has 400,000 euro remaining, and Borrower A would like to fully utilize the tracker for a new PDH home purchase of (say) 600,000 euro. Borrower B has no desire to purchase a new home and doesn't need their "share" of the tracker.
2A. Extension to question 2, but would the bank instead only allow a split, i.e. Borrower A and B go separate ways, and each gets to keep 200,000 euro of tracker rate with bank?
Hope that's clear, just trying to figure out options. Appreciate any guidance or experience in this regard.
