Hi all, have been reading some of the comments regarding the Interest Rates. I am a SVR with KBC and my rate is 4.79 and they will not do anything for me whatsover. However I have just been told about Parking part of my mortgage, does anyone know what this means and how it helps or affects you , thanks in advance (sorry if this is not going in the right place)
KBC Interest Rates
- Thread starter deehegart
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Brendan Burgess
Founder
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Is it a home or an investment property?
Are you in arrears or have you asked them to reschedule your mortgage?
Brendan
Are you in arrears or have you asked them to reschedule your mortgage?
Brendan
Sounds like a split mortgage - this is where you split the outstanding capital into two parts.
On one part you continue to make capital/interest repayments so that at the end of the term this amount is cleared.
On the other you pay interest only, the capital owed does not reduce and at the end of the term you still need to repay this amount some other way.
And the split mortgage ultimately costs you more than keeping the original loan amount on "normal" capital + interest (annuity) repayments and clearing it within the scheduled term.
But Brendan asks some pertinent questions above and you need to provide more info.
Hi,
Thanks for replies, no this is my only home and not in arrears on mortgage but live off my full salary overdraft instead of going to arrears, have been overdrawn to my full salary end of month, for the last 4 years almost. Yes they would let me pay back less but that still has to be paid, I am begging them to reduce interest rate for me, they said by .2 if I take my current account with them, but they wont give me the full overdraft facility that i have now
Thanks for replies, no this is my only home and not in arrears on mortgage but live off my full salary overdraft instead of going to arrears, have been overdrawn to my full salary end of month, for the last 4 years almost. Yes they would let me pay back less but that still has to be paid, I am begging them to reduce interest rate for me, they said by .2 if I take my current account with them, but they wont give me the full overdraft facility that i have now
You mean you get overdrawn to the extent of your salary amount and then clear that once you get paid?
Obviously not an ideal way to live especially if you are paying interest on the o/d?
Can you not make adjustments to get into a situation in which you avoid living off credit?
You would need to post much more detail about your overall financial situation for people to offer advice on this - or anything else really.
€24-€30 is not insignificant if you are strapped.
What rate of interest (APR) is that?
You would need to post much more detail about your overall financial situation for people to offer advice on this - or anything else really.
€24-€30 is not insignificant if you are strapped.
What rate of interest (APR) is that?
Hi Clubman,
I dont really have alot more to post, I live simple , and not sure re % overdraft interest rate, I know its not insignificant but it gets me through the month. E.g dont have wifi dont have fancy tv package, dont have computer of any kind as i work on one. I shop at the german cheap ones, all very basic really, dont think i can cut corners but I am surviving just trying to get lower rate on mortgage interest to give me bit more, but not happening really
I dont really have alot more to post, I live simple , and not sure re % overdraft interest rate, I know its not insignificant but it gets me through the month. E.g dont have wifi dont have fancy tv package, dont have computer of any kind as i work on one. I shop at the german cheap ones, all very basic really, dont think i can cut corners but I am surviving just trying to get lower rate on mortgage interest to give me bit more, but not happening really
It should be on your statement.
Avoiding o/d interest charges of €30 p.m. is one corner that should be cut if at all possible if things are so tight.