Mortgage situation if small bank is taken over by AIB or Bank of Ireland

[Tweety]

Hi,

I am just wondering if the smaller banks are taken over by AIB & Bank Of Ireland (which seems to be a consideration) and an existing mortgage with one of the smaller banks is taken over by a larger bank, would the interest rate & loan offer conditions remain the same. I am on a tracker at the moment and would hate to lose this if a merger occured.


Thanks.

 

[LDFerguson]

I'm not a legal expert but you do have a contract with your current mortgage provider so I would expect that existing contracts would have to be honoured by any bank that takes yours over.

 

[podgerodge]

given the current talking about mergers including ptsb we might find out the answer sooner than later. I hope the contract is not null and void if its a new lender.