Tracker Retention

I want to keep my tracker interest rate

If you an existing Haven customer with a Tracker rate mortgage and looking to move home, our Tracker Interest Rate Retention (TIRR) offer may be just what you need.

This offer is for our existing customers who have a Tracker interest rate on their current home loan account and want to sell their current home to buy a new home, while still retaining a Tracker interest rate.

For more information about retaining your Tracker rate and getting a new home read the Tracker Interest brochure

Step-by-Step Guide

Applying for TIRR is very similar to our normal mortgage application process.

Starting off

Meet your Mortgage Broker. They will help you to complete a new mortgage application Form and a TIRR Application Form

Approval in principle (AIP)

If approved, your mortgage Broker will send you an Approval in Principle letter confirming that we can give you a mortgage and you are eligible for TIRR.

Selling your home

To take up TIRR, before drawing down your new mortgage, you will need to sell your home and clear your existing mortgage in full.

Decide on a home

Looking for your new home is the exciting bit. Once you’ve found it, you may put in an offer. If it’s accepted, it’s back to us.

Once your offer is accepted

Talk to your mortgage Broker once you have made an offer on a new home and provide them with the details of the home, the name of your solicitor and arrange a valuation report.

Key features and restrictions

  • The amount of your new mortgage loan for which you can avail of TIRR will be limited to the balance outstanding at full loan approval. Any amount above this will be at the prevailing Haven new business interest rates.
  • You can only avail of TIRR for the term remaining on your existing Tracker mortgage loan(s), at the time of full loan approval.
  • Your TIRR rate will be your existing tracker interest rate plus an additional 1%.
  • Your new mortgage may only be used to buy a new home, as your principal private residence.
  • You must have an Approval in Principle or a Letter of Offer that is still valid for the new tracker interest rate retention mortgage before selling your existing property.
  • Your existing property should only be sold after receiving your Approval in Principle or a Letter of Offer. Your existing mortgage account must be cleared in full before you can draw down your new mortgage.
  • The full sale proceeds of your existing home must be used to repay your existing mortgage
  • You will only be able to avail of TIRR once during your relationship with Haven as a mortgage customer i.e. you will not have the option to retain your Tracker interest rate again for a subsequent house move.
  • Additional information relating to switching lender or changing mortgage type can be found on the website.

For more details, please read our Tracker interest brochure.

-Got questions?-

Here are answers to some questions you may have.

A tracker mortgage ‘tracks’ changes to the ECB (European Central Bank) rate. If the ECB decides to increase or decrease its rate, the rate on the Tracker Mortgage will go up or down by the same percentage.

Under a Tracker Interest Rate Retention, you can keep your Tracker interest rate plus an additional 1% on your current Tracker mortgage balance if you want to sell your existing property and buy a new principal private residence.

TIRR is only available to existing Haven home loan tracker mortgage customers who are up to date with their existing mortgage repayments.

Up to 90% loan to value (LTV) finance is available to you towards the purchase price of your new property. Up to 80% loan to value is available for a studio apartment valued at €275,000 or above, or a one-bedroom property. We do not lend for the purchase of studio apartments valued at under €275,000.

Once your Mortgage Broker receives your application and any other information, they have asked you to give us as set out in the Approval in Principle checklist, they will contact you within three business days to say we have received it.

  • If there is any information missing, they will tell you within three business days;
  • We will let your mortgage broker know our decision on your mortgage application within ten business days of receiving all the information we need;
  • If we cannot make a decision within ten business days, we will tell your mortgage broker why and when we are likely to make a decision.
Regulatory Notice

Tracker Interest Rate Retention Mortgage General and Regulatory Information

Lending criteria, terms and conditions apply. Over 18s only. Security may be required.

  • WARNING: If you do not keep up your repayments you may lose your home.
  • WARNING: You may have to pay charges if you pay off a fixed-rate loan early.
  • WARNING: The cost of your monthly repayments may increase.
  • 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: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.
  • WARNING: If you switch to an alternative interest rate, you will not be contractually entitled to go back onto a tracker interest rate in the future.