Home Mover Product from PTSB

Have you decided to move house, but are either struggling with negative equity or have a tracker interest rate? If you are a Permanent TSB customer, MC Financial may just have the solution for you.

Negative Equity Mortgage

The Negative Equity Mortgage will allow customers who are in Negative Equity, to sell their current home and transfer the remaining balance owed onto the mortgage on their new property. Therefore the new property purchased will be in Negative Equity.

You can move home if you are in Negative Equity, have a fixed or variable rate mortgage or a tracker interest rate. With a Negative Equity Mortgage you could trade up or trade down, depending on your situation.

Tracker Portability Mortgage

A Tracker Portability mortgage will allow you to move home and keep the Tracker Interest Rate that applies to your primary mortgage plus an additional 1%.

As you are aware, your Tracker Interest Rate is made up of the ECB (European Central Bank) rate + a margin. For Tracker Portability, the Tracker Interest Rate that will be transferred will not include any adjustments that have been applied to the margin since the current tracker rate product was set up on the primary mortgage. The maximum term you can avail of is the current term remaining of the primary mortgage (term will be rounded up to the nearest year).

These products are available to two Permanent TSB customers

  1. Customers on HOME LOAN Tracker Interest Rates in Positive Equity who are trading up or trading down.
  2. Customers on HOME LOAN Tracker Interest Rates in Negative Equity who are trading up or trading down.

You can also apply for a Tracker Portability mortgage if you have moved to a rented property and are renting out the home you own.

For more information on PTSB mortgages get in touch with Michael today by calling 01 822 8022 or by emailing michael@mcfinancial.ie.

You can also fill out our mortgage enquiry form and a member of our team will be in touch to discuss your application shortly.