I have a mortgage with KBC, soon to be sold to BOI.
Current mortage: 120,000 fixed for 3 years at 2.65% (originally a 5 year fixed period) and 178,000 on a Tracker ECB +2.1%.
14 years remaining on the tracker
17 years remaining on the remaining portion.
Loan to value: approx 55%
I have been looking into Avant mortgages as they are offering a fixed rate for up to 7 years of 1.95%. This would mean about 200 euro less a month in mortgage repayments.
I have contacted KBC and they have advised there would be no break fee for the fixed part of the mortgage.
Solicitor cost is 1000 euro
My question is would I be mad to give up the tracker even though there are significant savings to be had?
Any advice would be gratefully received. Thanks!
Current mortage: 120,000 fixed for 3 years at 2.65% (originally a 5 year fixed period) and 178,000 on a Tracker ECB +2.1%.
14 years remaining on the tracker
17 years remaining on the remaining portion.
Loan to value: approx 55%
I have been looking into Avant mortgages as they are offering a fixed rate for up to 7 years of 1.95%. This would mean about 200 euro less a month in mortgage repayments.
I have contacted KBC and they have advised there would be no break fee for the fixed part of the mortgage.
Solicitor cost is 1000 euro
My question is would I be mad to give up the tracker even though there are significant savings to be had?
Any advice would be gratefully received. Thanks!