Hi all,
We are almost 5 years into a 35 year mortgage and are with KBC. We were on a 3 year fixed but are now automatically onto their standard variable rate and currently our rate is 4.05%. It decreased from 4.5% only a few months ago as all of our other bank accounts are with KBC etc. The remaining amount on the mortgage is approx. €354,000 and monthly repayments on the 4.05% rate is €1,690 per month which does not include any of the TRS mortgage interest relief. We bought the house 5 years ago for €425,000 and it is currently valued at approx €660,000.
Can anyone please lend advise if it is worthwhile pursuing a cheaper mortgage rate with another provider and if it would be worthwhile when you take into account switching fees, legal fees etc.
Any advice would be welcome as we are not experts at all in this area.
Thank you,
D
We are almost 5 years into a 35 year mortgage and are with KBC. We were on a 3 year fixed but are now automatically onto their standard variable rate and currently our rate is 4.05%. It decreased from 4.5% only a few months ago as all of our other bank accounts are with KBC etc. The remaining amount on the mortgage is approx. €354,000 and monthly repayments on the 4.05% rate is €1,690 per month which does not include any of the TRS mortgage interest relief. We bought the house 5 years ago for €425,000 and it is currently valued at approx €660,000.
Can anyone please lend advise if it is worthwhile pursuing a cheaper mortgage rate with another provider and if it would be worthwhile when you take into account switching fees, legal fees etc.
Any advice would be welcome as we are not experts at all in this area.
Thank you,
D