Tracker Interest Rate Mortgage

AIB helping you move with Tracker Retention

What is a Tracker Mortgage?

Have an AIB Tracker Interest Rate Mortgage? Thinking about moving? Don’t want to lose the Tracker Rate?

Now you don’t have to. If you have an existing tracker interest rate mortgage with AIB and you're thinking about moving there may be an option to suit you.

Tracker Interest Rate Retention

If you are an existing AIB mortgage customer with a tracker interest rate and you want to sell your existing home and buy a new one, our new Tracker Retention may be of interest to you.  

Tracker Retention allows you to retain your existing tracker interest rate (plus an additional 1% margin) on a new mortgage loan, subject to the key features and eligibility requirements outlined below.

All new applications will be assessed under AIB standard lending criteria and terms and conditions.

Tracker Retention Features and Benefits

If you are an existing AIB mortgage customer with a tracker interest rate mortgage and you want to sell your existing home and buy a new one, see how Tracker Retention could work for you.

If after reading the information on this page, and in AIB Mortgages Helping You Move Home brochure, you feel Tracker Retention could be for you, or if you have any queries, please phone 0818 24 44 25 (+353 1 771 5613 Outside Ireland). Our trained team will be happy to answer all of your questions and go through the application process with you.

Key Features and Eligibility requirements

Tracker Retention is only available to existing AIB mortgage customers with a tracker interest rate on their principal private residence and who are not experiencing difficulties making their existing mortgage repayments

The amount of your new mortgage loan(s), that can avail of TIRR will be limited to the balance outstanding at full loan approval. This could be different to the balance at the time of Approval in Principle.

You can only avail of Tracker Retention for the amount of time remaining on your existing tracker mortgage loan(s) at the time of application, subject to AIB’s maximum age. i.e:

  • Subject to clearance restrictions, such as, up to your 69th birthday or, up to 71st birthday subject to documentary confirmation of employment or on retirement if earlier
  • or if you are self employed by your 71st birthday

The new tracker interest rate will be your existing tracker interest rate plus an additional margin of 1% Any additional mortgage amount required to purchase your new home will be at the prevailing AIB new business rate

Your new mortgage loan may only be used to purchase a new home which is to be used as your primary private residence

If you have more than one AIB mortgage on a tracker interest rate secured against your home, Tracker Retention will be based on:

  • the total balance outstanding on all of your AIB tracker mortgage accounts;
  • the longest term remaining on your existing tracker mortgage accounts; and
  • the lowest tracker interest rate applicable to your tracker mortgage accounts (plus an additional margin of 1%).

Your existing home must be sold and 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 need to pay any costs which may occur from the sale of your existing home and the purchase of your new home (including professional fees)

If you choose to convert the tracker interest rate to an alternative interest rate (e.g. fixed interest rate), at a later date, you will not have the option to revert back to the tracker interest rate

You will only be able to avail of Tracker Retention once during your relationship with AIB as a mortgage customer i.e. you will not have the option to retain your tracker interest rate again for a subsequent house move

If you are approved for a new mortgage and Tracker Retention, a Letter of Loan Offer will be issued to you. The Letter of Loan Offer will be valid for 6 months, after which time you will need to make a new mortgage application, which will be subject to AIB standard lending criteria and terms and conditions

If you have sold your home and cleared your mortgage loan, to remain eligible for Tracker Retention, you must reapply for Tracker Retention at least 30 days before the expiry of the Letter of Loan Offer. This is subject to AIB still offering the Tracker Retention at that time.

If you and your co-borrower wish to sell your existing home, buy new homes separately from each other and avail of Tracker Retention, you will each only  be able to avail of Tracker Retention in respect of half of the balance of your existing joint mortgage.

If your co-borrower does not wish to buy a new home and avail of TIRR, then you may be able to avail of TIRR in respect of the entire balance of your existing joint mortgage. Your co-borrower would, however, lose their entitlement to avail of TIRR at any time in the future. They would need to waive this entitlement and sign a TIRR Waiver. We would recommend that all borrowers receive interdependent financial and legal advice in this scenario.

This may seem complicated, if you have any questions please phone 0818 24 44 25, our mortgage advisor will answer any questions you may have

If your existing mortgage is in your sole name and you wish to sell your home and apply for a new joint mortgage with a co-borrower so that you can buy a new home together, you may apply for Tracker Retention subject to the key features and eligibility requirements outlined above

How to apply

Applying for Tracker Retention is very similar to our normal mortgage application process. Some of the key steps are outlined below:

Review & approve

We will review your mortgage application and if your new mortgage is approved, we will provide you with a Sanction in Principle letter. This is when your bank agrees, in principle, to give you a mortgage, based on the information you’ve provided. This letter will also confirm that you are eligible for Tracker  Retention.

Selling your home

Remember, selling your existing home may take time. It will be a condition of the new Letter of Loan Offer that your existing property is sold and your mortgage cleared in full prior to draw down of the new loan so ensure you have the property on the market in good time. You will need to pay all legal, moving
and auctioneering fees (these cannot be deducted from the sale proceeds). If you have a fixed interest rate mortgage account an early breakage cost  may need to be paid by you.

Buy your new home

So, you have sold your old house and found a new home to buy. Your new home will have to be valued. A valuation of the property will have to be carried out by a valuer on our residential mortgage valuers panel. This can only be arranged by contacting our Central Valuations Team on 0818 100 051. The valuation will cost you €150.00. If this is carried out more than four months before the requested date of drawdown of the loan or of the final stage payment, a re-valuation will be required and this will cost you €65.00.

Once the property and valuation are accepted by us, we have carried out a full loan assessment and you meet our standard lending conditions, you will be given a Letter of Loan Offer outlining the conditions and mortgage approval.

The currency of your loan and repayments will be euro. If the currency of (some of) your income or assets you intend to use to repay the mortgage loan is not euro, and/or you live in a European Economic Area (EEA) state that is not in the euro zone, the mortgage loan is a foreign currency loan.

You should be aware that fluctuations in the relevant currency exchange rates may affect the value of your outstanding mortgage balance and/or your repayment. This could mean that you may find it difficult to afford your mortgage repayments.
We can only facilitate one non-euro currency per mortgage application

Your new mortgage

Once the conditions in the Letter of Loan Offer have been met we will forward the money to your solicitor to complete the purchase of the new property.

Download AIB mortgages guide to helping you move home >

Download application form >

Talk to us

If, after reading through this brochure, you feel Tracker Retention is for you, or if you have any queries, please phone 0818 24 44 25, as you will be unable to apply for Tracker Retention in your Branch. Our trained team will be happy to answer all of your questions and go through the application process with you.

They will require you to complete and return a Tracker Interest Rate Retention Application Form and a Mortgage Application Form and all relevant documentation, which will allow us to assess your application for this product.

Moving home, regardless of your circumstance, is a big decision. We advise you to take independent legal, tax and financial advice before deciding on any type of mortgage.

 Please note:

AIB strongly recommends that you seek independent legal, tax and financial advice before proceeding with Tracker Retention.
The Sanction in Principle regarding how much money you may be able to borrow for the new property, is subject to change based on your financial circumstances at the time of purchase of the new property and the actual sale price for your existing property.
After the sale of your existing property, it may be necessary for you to review/amend/cancel.
Your existing insurance policies.
Prior to the drawdown of your new mortgage, you will be required to have adequate life cover in place. You should speak to your financial advisor about amending your existing life cover and/or taking out additional life cover.
Any arrangements or modifications to your existing AIB loan account(s) may be reported to the Irish Credit Bureau and may appear on your credit report.
You will be responsible for the cost of any property valuations and any other associated costs of buying and selling the properties.
If part of your existing mortgage is on a fixed interest rate and it is repaid prior to the expiry of the fixed interest rate term this may result in an early breakage cost being payable to us. Your existing Letter of Loan Offer details how an early breakage cost is calculated. For further details regarding the early breakage cost please telephone 0818 251 008.
The Tracker Interest Rate Retention offer is available until further notice.
Tracker Interest Rate Retention may also be referred to as Tracker Portability in other documentation you may receive from us.

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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.