variable to tracker rate??

B

bilbob

Guest
Can I swop from a variable rate to a tracker rate on a mortgage topup?
I presume savings could be made this way
 
Yes you can usually request any rate the lender has on offer for a top-up, as it's seen as a new loan.

While you're at it, ask your lender for their best tracker for the bulk of your mortgage, not just the top-up.

Liam D Ferguson
www.ferga.com
 
Thanks Liam, but for the bulk of my mortgage I have 1 year left on a 3 year fixed so I presume that cant be changed,

But the top up is about 70k on variable rates with EBS so can I just meet my manager and ask to move to a tracker rate, is it this simple?



rgds
 
There may be some haggling involved. Tell the manager that you know EBS has a tracker trate of 2.8% (APR 2.9%) and that you want it.

(It so happens that this 2.8% rate is only for very big loans (>€1.25M) but it's a good place to start negotiating. You might not get this rate, but you should get better than the Standard Variable.)
 
thanks,
on a topup of 70k can much savings be made by going to a tracker rate?

I am going to increse mortgage repayments by 350 a month, am i better off redeeming this against the fixed/bulk of mortgage or the top-up?

tks
 
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