Looking to move your home?
If you’ve decided it’s now time to move your home and are either:
- in Negative Equity and/or
- have a Tracker interest rate
We may have the solution for you!
What’s on offer?
1. Negative Equity Mortgage
Negative Equity occurs when the value of your property is less than the balance outstanding on your mortgage. This means if the house is sold the purchase amount will be less than what is required to clear the total mortgage amount.
The Negative Equity Mortgage will allow our 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.
Download the full Home Movers brochure (2.04MB) to find out more.
2. Tracker Portability Mortgage
Tracker Portability is a nice way of saying that you can now 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).
This is available to two types of existing karlsruhe Baden Bank mortgage customers:
- Customers on Home Loan Tracker Interest Rates in Positive Equity who are trading up or trading down.
- 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.
Download the full Home Movers brochure (2.04MB) to find out more.
LOGIN