Porting a Tracker Mortgage on Investment Properties

Hi all,

Looking for some advice. I have two investment properties in Dublin (apartments) and they are both on tracker mortgages. Currently I owe approximately €500k on both and they have a rough market value of €675k. Is it possible to sell both properties and purchase a house (investment property) while keeping a tracker +1%? While this is common in the UK i'm unsure of it's availability in the Irish market.

Finally would the new mortgage rules apply in this instance? 3 / 3.5 times salary?

Surely it would be a win win for the bank to move me off two tracker mortgages.

Advice welcome. My bank haven't been of great help to me thus far.

Thanks.

No. Irish lenders do not offer this on investment properties.

You could ask them but expect to get refused.

Why would you do it? I would presume that the return on two apartments worth €330k each would be better than the return on a single house worth €660k

I don't think that the salary rules apply to investment properties.

The LTV rules do.

Brendan

Brendan - thanks for the reply. I'd look at this for a number of reasons. Rental income from a 660k house would be similar to two appts imo. Also i'd save 4k per annum in service charges fees. I'm also thinking that i could potentially move into this property when i retire. I'll investigate further.