Negative Equity Trade Down

Who could this be suitable for?

Existing customers of KBC Bank Ireland (KBC) in negative equity who are looking to trade down to a home of lower value.

What are the key requirements?

  • Maximum LTV of 175%

  • Maximum loan amount of €550,000

  • Maximum term of 30 years

  • Maximum age at maturity – 70 years

  • Customers must not be in arrears or financial difficulty

  • Lending terms and conditions will apply

How does it work?

In essence, a KBC Negative Equity Trade Down Mortgage operates like this:

  • First, make contact with a dedicated KBC Mortgage Consultant/Hub who will explain the  process.
  • A valuation will be required on the existing property, at a cost borne by the customer.
  • The application for the KBC Negative Equity Trade Down Mortgage will have to go through an assessment process under the current KBC lending criteria.
  • Should the application be successful an Approval in Principle will issue.
  • 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 a new property has been identified, KBC will issue funds to purchase the new property.
  • The new KBC Negative Equity Trade Down Mortgage will consist of the amount required to purchase the new property plus the residual balance from the sale of the existing 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.