# Band Move/Green Mortgage Move



## Brianios (22 Sep 2020)

Hi,

Wondering what other might do in my current situation..

Mortgage on PDH 272k - 25yrs left.

We are due a band move to 50-80% which will move us from 3.15% to 2.95%.

We have also done considerable work to the house that will move us from C1 to at least B2/B1 BER.

We also have 20k we would like to pay off mortgage in lump.

We are waiting to have our home valued and new BER done.

My question is does it matter at what point we pay in the lump of 20k? We are thinking of getting band change, then paying lump, then moving to green mortgage of 2.35% with payments increased by ~400 per month. Are we doing it all wrong or does this seem straight forward enough?

Hoping to reduce term by around 10years or so.

Thanks for any help


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## Jb1234 (22 Sep 2020)

Check on loan to value rate with Avant ?


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## Brendan Burgess (22 Sep 2020)

1) pay the €20k off the mortgage which would reduce it to €250k  -
2) Change to the lower LTV band as long as it's a variable rate. 
3) Get approved for the Green mortgage @ 2.25% over 5 years. 

4) Compare the LTV rate from Avant -

If you qualify for the 5 year 1.95% rate ...
Saving from moving to Avant: .3% of €250k or €750 a year.  
You will pay about €1,000 in legal fees, so it's worth doing.

If you qualify for the Avant <70% rate of 2.1%, 
The saving would be .15% @€250 or €375 a year. 
This would not be worth paying the €1,000 in legal fees for. 



Brendan


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## Brianios (22 Sep 2020)

Brendan Burgess said:


> 1) pay the €20k off the mortgage which would reduce it to €250k  -
> 2) Change to the lower LTV band as long as it's a variable rate.
> 3) Get approved for the Green mortgage @ 2.25% over 5 years.
> 
> ...


Brendan,

Many thanks for both your replies you gave me today on both topics. Very much appreciated.

Thanks again


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