Transferring from std variable mortgage to tracker

Hi

Looking for advice.

I have a std variable mortgage with EBS for 4.5 years now. I've been told by some people that I should switch to a tracker mortgage as it will be cheaper. Does anyone have any advice from experience, and perhaps suggest some of the tracker mortgages to review.

I presume there will be a significant cost in switching.

I meant to say I have about 95k left on my mortgage.

EBS tracker rates are listed [broken link removed]. Most lenders will allow you to switch from standard variable to tracker but only if you ask - i.e. they won't unilaterally inform you that you could save by doing so. Even mutuals like the EBS who really should be acting in the interests of members of the society. Some lenders may try to prevent existing borrowers from switching to cheaper trackers but may relent if you haggle and threaten to move elsewhere. It's possible that you could save even more (even after remortgaging expenses have been taken into account) by moving to another lender altogether. See the best buys list for more competitive tracker rates and use Karl Jeacle's mortgage calculator to figure out the potential savings (don't forget to factor in remortgaging expenses if applicable - some lenders such as Ulster Bank will subsume or subsidise these). Hope this helps.

Clubman makes the point that you should stay with EBS and get their tracker. Or else get the cost of remortgaging and compare that outlay with the difference between what EBS will give versus the rest.

errigal said:

Looking for advice.
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Did that earlier this year with BOI, i took one phone call and job done..
This is the only "good" service i have had with BOI though in 10 years. This may not reflect experience from other BOI customers.