Banks make it easier to move from houses bought in boom
MORE options are opening up for homeowners who need to move to another home.
And experts predict that banks are set to do more to make it easier for those trapped in a boom-bought house to move to a new property.
Thousands of people have held off from moving due to negative equity and the fear of losing valuable tracker mortgages.
Economist with Goodbody Stockbrokers Dermot O'Leary said that after six years of a housing collapse banks had come to realise there will be no proper recovery unless the boom-buyer generation can trade up and down.
"Potential move purchasers are trapped by negative equity, and half of the mortgages out there are trackers which people do not want to lose," Mr O'Leary said.
"Banks now realise that they have to unlock the market and there is a head of steam building to allow people to move, by letting them keep a tracker and by doing a deal on the negative equity," he added.
Here are some of the options for those who need to move but are trapped by the Tiger-era jumbo mortgage:
Negative equity mortgage
Negative-equity mortgages let you sell your home and carry over whatever debt is left on a previous mortgage on to a new loan.
They are offered by AIB, EBS, Permanent TSB, Danske Bank, Bank of Ireland and Ulster Bank.
However, few of these mortgages have been issued, and banks impose strict limits on the amount of the negative equity that can be carried over.
A number of banks have started to offer tracker-move mortgages. If you need to borrow more than is owed on the tracker, you borrow it at a variable or fixed rate.
Ulster Bank has been offering a tracker transfer for a while. AIB, EBS and Permanent TSB are set to introduce the same product.
Bank of Ireland has introduced a tracker transfer, but you only get to keep the tracker for five years, and the tracker rate goes up by 1pc over that period.
Negative equity trade-down mortgages let you sell your home and carry over whatever debt is left on a previous mortgage to a new loan.
AIB, Bank of Ireland, Danske Bank, EBS, and PTSB offer these mortgages to people in financial distress. Ulster Bank offers negative-equity mortgages in some circumstances.
AIB, Bank of Ireland, Danske Bank and EBS allow you to hold on to your tracker mortgage if you're opting for a negative equity trade-down mortgage because you're in arrears.
If you're with Ulster Bank, you may also be able to hold on to your tracker.
Rent your home
If you really need to move, but are reluctant to sell because doing so will entail losing your cheap tracker rate, you could rent out your current home.
You may be able to hold on to your tracker mortgage when renting out your home, depending on your lender.