Negative Equity Trade Up

Who could this be suitable for?

Existing customers of KBC Bank Ireland (KBC) who are looking to trade up to a home of greater value – be it a larger property or one in another area.

Naturally, some restrictions apply, depending on the amount of negative equity involved, and the amount you require to purchase your new home.

What are the key requirements?

  • Maximum LTV of 125%

  • Maximum loan amount of €550,000

  • Maximum term of 30 years

  • Maximum age at maturity – 68 years

  • Customers must not be in arrears or financial difficulty

  • Minimum deposit of 10% (urban location) and 20% (non-urban location) of the new property purchase price required

  • Minimum net disposable income requirements will apply

How does it work?

In essence, a KBCI Negative Equity Trade Up Mortgage operates like this:

  • First, make contact with a dedicated KBC Mortgage Consultant who will explain the process.

  • A valuation will be required on your existing property, at a cost borne by you.

  • Your application for the KBC Negative Equity Trade Up Mortgage will have to go through an assessment process under the current KBC lending criteria.

  • You will be required to submit supporting documentation.

  • Should your application be successful an Approval in Principle will be issued to you.

  • If you sell your existing home at current market value, this will be used to pay off your existing KBC mortgage, leaving a residual balance or negative equity.

  • Once you find a new property, we will issue funds to allow you to purchase that new property. You must also make an equity contribution of a minimum of 10% of the purchase price up front.

  • Your new KBC Negative Equity Trade Up Mortgage will consist of the amount required to purchase the new property plus the amount remaining on your existing mortgage, following the sale of your previous property.

If you are an existing KBC Tracker Mortgage customer and you are looking to move home, please contact us on 1800 51 52 53  to discuss your options.

KBC strongly recommends that, before purchasing any of the above products, you click on the link below to read the Important Information.