Hi all,
Just looking for some advice on how to go about the below and also if it's worth it and what my savings would be.
Any advice is welcome.
Thanks,
Don
Just looking for some advice on how to go about the below and also if it's worth it and what my savings would be.
- I switched my SVR mortgage rate of 4.3% from KBC to Ulster bank about 6 months ago and am currently on the Ulster Bank SVR loyalty discounted variable rate of 3.1%.
- My current outstanding loan balance is approx €353K and I have 29 years left on the policy.
- I receive mortgage interest relief TRS direct debit each month and this is due to finish at the end of 2017 as we purchased the house in mid 2011.
- Am I able to overpay my monthly repayments with Ulster Bank and if so how can I go about doing so? I would like to pay an extra €100 each month above the already agreed payment at the SVR rate 3.1%.
- What are the long term benefits if I do carry out the above and how will it reduce the outstanding principal capital balance?
Any advice is welcome.
Thanks,
Don