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Home Movers

For PTSB customers looking to move home

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What's on this page

Negative Equity Mortgage   |  Tracker Portability Mortgage  |   Important information   |

   What else do I need to know?

If you’ve decided that it's time to move your home and are either:

  • In Negative Equity and/or
  • Have a Tracker Interest Rate

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.

Home Movers Brochure

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 PTSB 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.

Home Movers Brochure
Find your local branch Call 0818 50 24 24
Book an appointment Apply online Call 0818 50 24 24
Important information
  • Negative equity customers must contribute a minimum of a 10% deposit of the purchase price towards the purchase of the new property.
  • Positive equity customers must contribute a minimum of a 20% deposit of the purchase price towards the purchase of the new property.
  • All associated fees (such as legal and auctioneer fees, and stamp duty etc.) must come from your own funds.
  • This offer is only available to existing PTSB mortgage customers whose account(s) are operating in order as set out in the terms and conditions of their mortgage and have not been in arrears or availed of an alternative repayment arrangement in the past 24 months as a means of helping with repayment difficulties.
  • For customers who are in Negative Equity and want to trade up (i.e. where the total loan amount has increased), a maximum Loan-to-Value (LTV) on the new property of 125% applies.
  • If, as part of Tracker Portability you choose to reduce the term and/or loan amount of your primary mortgage, you cannot as part of Tracker Portability at a future date increase the term and/or loan amount. Tracker Portability is only available once and it can only be used on one property.
  • For customers who are in Negative Equity and want to trade down (i.e. the total loan amount will decrease), a maximum LTV on the new property of 175% applies.
  • The existing property and your new property must be your family home.
  • The maximum total loan amount for a trade-down mortgage is €550,000.
  • As this is a credit product, it is subject to approval by our underwriters.
  • Tracker Portability is only available once during the mortgage term.
  • Tracker Portability is only available to customers who make a full application in advance of selling their current family home.
  • Tracker portability is only available to customers for 6 months following the sale of their current family home.
  • The ECB rate is available on the ECB website.

What else do I need to know?

The above information is valid as at today's date.

Warning: If you do not keep up your repayments you may lose your home.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.

Warning: The cost of your monthly repayments may increase.

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

Ulster Bank Mortgage Customers

Here you will find details on the transfer of your Fixed or Variable Rate Mortgage, including helpful contacts, action needed and FAQs.

Find out more
Mortgage Interest Rates

Visit our mortgage rates page for more detailed information on specific mortgage rates.

View mortgage rates
Variable rate mortgage policy

Learn more about how we set our variable mortgage interest rates in our variable rate policy statement.

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