Moving with negative equity


What is negative equity?

Negative equity happens when your home is worth less than what you still owe on your mortgage. This means if you sell your home, the money from the sale will not be enough to fully pay off your mortgage, and you’ll still owe money to the lender.

Can I move house with negative equity?

Some people think negative equity means they cannot move, but we may still be able to help. In some cases, we can offer a mortgage for a new home and carry over the amount you still owe from your current mortgage to a new mortgage.



Who is this option suitable for?

This option is open to you if you:

  • Are in negative equity.
  • Are an existing Bank of Ireland mortgage customer with a satisfactory repayment record of at least 2 years.
  • Live in the home (negative equity option is not available to buy-to-let customers).
  • Are an apartment holder who wants to move to a bigger property.
  • Are a parent and need more space for a growing family.
  • Need to move location due to job opportunities or family circumstances.
  • Want to build your own home.

Who is this option suitable for?

This option is open to you if you:

  • Are in negative equity.
  • Are an existing Bank of Ireland mortgage customer with a satisfactory repayment record of at least 2 years.
  • Live in the home (negative equity option is not available to buy-to-let customers).
  • Are an apartment holder who wants to move to a bigger property.
  • Are a parent and need more space for a growing family.
  • Need to move location due to job opportunities or family circumstances.
  • Want to build your own home.


Important details to note

  • The maximum loan-to-value (LTV) for this option is 175% (including negative equity).
  • The maximum LTV for this option for self-builders is 125% (including negative equity).
  • The maximum mortgage loan term for this option is 35 years.
  • Cashback offer of up to 3% of your mortgage drawdown back in cash. Terms and conditions apply.1
  • If you have a tracker mortgage you may be eligible for our ‘Tracker for movers’ option.
  • Standard new business fixed and variable rates apply.


How much can you borrow?

When you sell your current home, you can carry forward the negative equity onto your new mortgage.


If you’re trading up

moving to a property of greater value than your current home

Movers can generally borrow up to 3.5 times your gross annual income (or combined income for joint applicants) and up to 90% of the new property purchase price. This means you must pay at least 10% of the new property purchase price, stamp duty, and other costs like legal fees and estate agent fees.


If you’re trading down

moving to a property of lesser value than your current home

Movers can generally borrow up to 3.5 times your gross annual income (or combined income for joint applicants) and up to 100% of the new property purchase price.

How does trading up work?


Current property
Value of current property€180,000
Amount you still owe€245,000
Negative equity €65,000
Current loan-to-value ratio 136%

New property
Price of new property€350,000
New mortgage (90%)€315,000
Negative equity carried forward €65,000
New mortgage needed€380,000
New loan-to-value ratio 109%


The lender is Bank of Ireland Mortgage Bank u.c. or Bank of Ireland. Lending criteria and terms and conditions apply. A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €613.16 per month at 4.15% variable (Annual Percentage Rate of Charge (APRC) 4.3%). APRC includes €150 valuation fee and mortgage charge of €175 paid to the Tailte Éireann. The total amount you pay is €147,482.50. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4 times gross annual income for first-time buyers) and 90% of the property value. A 1% interest rate rise would increase monthly repayments by €53.89 per month. The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home. Available to over 18s only. The mortgage will be subject to assessment of suitability and affordability. APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years.



Being mindful about borrowing

Your financial wellbeing is our priority. Discover more about the relationship between borrowing and debt to make informed decisions about your mortgage and future.

Learn more about borrowing and debt


Need a helping hand?

Get support and assistance from our mortgage specialists, 9am to 5pm, Monday to
Friday. Choose your preferred way to talk to us.

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Call 0818 365 345

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Are you having money worries?

Find yourself under financial strain? We’re here to listen, support, and help find a way to relieve the pressure.

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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: 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: The cost of your monthly repayments may increase.
Warning: If you switch to an alternative interest rate, you will not be contractually entitled to go back on to a tracker interest rate in the future.

Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland.



Information and legal notices

Legal and regulatory information for mortgages.

View information and legal notices


1 Up to 3% cashback is available to first-time buyers, movers and switchers who draw down a new mortgage. 2% cashback on draw down of a new mortgage. 1% bonus in 5 years subject to meeting the conditions of the mortgage. Additional 1% bonus not available for buy-to-let investment or equity release mortgages. Cashback is not available on High Value Mortgage fixed interest rates or a standard variable rate.