New mortgage deals for negative equity

How do we stand in terms of remortgaging?

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I know it is a year away, but it's already starting to worry me. A The time to start worrying is about three months before your current fixed-rate deal comes to an end. At that point you should find out what fixed-rate deals are available, both from your current lender and other lenders. However, sticking with your current lender may be the only option. When you apply for a new mortgage a new lender will want to value your property.

So if your house is worth less than the amount you need to borrow to repay your current mortgage — which is what you need to do when remortgaging — a new lender may not be prepared to offer you a loan. At Bank of Ireland we recognise that you may have a need to move to a different home depending on your circumstances and we have a solution for you, even if you are in negative equity.

What to do if your property has negative equity

We may be able to provide a mortgage for a new home where you bring the negative equity portion of your current mortgage across to your new mortgage. Negative Equity trade up or trade down are available to Owner Occupier Mortgages only.

Negative Equity Mortgages

This product is not available to Buy to Let mortgages. Applicants must be existing Bank of Ireland Mortgage customers with a satisfactory repayment record of at least 2 years. Got a question? Our FAQs may help. Go to our Support Centre to see a full list of frequently asked questions.

  • Negative Equity;
  • Negative equity: what it means and what you can do about it!
  • Where are the incentives for the negative equity generation?;
  • Remortgage options for those in negative equity.

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Negative equity - Wikipedia

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Negative equity mortgages are not an Irish joke – UK lenders do them too

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How does a mortgage shortfall happen?

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