Using tracker mortgage on one property to buy out mortgage on other variable rate mor

D

DAVID1974

Registered User
Messages
15
Hi All,
This may be a very odd query, but here it goes:

I have 2 houses, one with a tracker (PTSB) (rental investment house) and my PPR which is a large mortgage on a variable rate with Ulster Bank.

Some banks are allowing persons to move with tracker and trade up and the balance of costs to trade up would be on a variable rate.

Could I sell my investment house and bring my tracker to buy out my PPR mortgage?
 
No. Only Ulster Bank is allowing borrowers to transfer their trackers.

So your plan falls at the first hurdle as PTSB don't allow it.

However, at some stage you may be able to get a discount from ptsb for repaying your tracker early. You would still have an SVR with UB but your overall net assets would have improved which is potentially more important.

Brendan
 
I wonder would Ulster Bank allow me to move to U Bank with the PTSB tracker on the rental property and then purchase my PPR house with a transfer of the tracker?
 
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