Hi All,
Looking for some opinions here. I am currently at loan offer stage with BOI and weighing up whether or not I should go with their cashback offer.
I am buying an A rated house so I can avail of their cheapest green rate mortgage offers. I'm borrowing €477,000 over 35 years. BOI are offering 2% cashback so €9,500 cashback at draw down.
Our broker had suggested fixing for one year @ 4.3% with repayments of €2,198 per month and getting the cashback versus fixing for 4 years @ 3.6% with repayments of €1,999 per month.
So there would be around €7,000 cashback accounting for the higher monthly repayments. Our broker reckoned after the 1 year fixed that we would probably be able to then fix for 3.6% or lower. I know that is all crystal ball stuff and hearing this week that there might not be as many rate cuts this year as anticipated.
I'd like to hear some thoughts.
Thanks in advance
G
Looking for some opinions here. I am currently at loan offer stage with BOI and weighing up whether or not I should go with their cashback offer.
I am buying an A rated house so I can avail of their cheapest green rate mortgage offers. I'm borrowing €477,000 over 35 years. BOI are offering 2% cashback so €9,500 cashback at draw down.
Our broker had suggested fixing for one year @ 4.3% with repayments of €2,198 per month and getting the cashback versus fixing for 4 years @ 3.6% with repayments of €1,999 per month.
So there would be around €7,000 cashback accounting for the higher monthly repayments. Our broker reckoned after the 1 year fixed that we would probably be able to then fix for 3.6% or lower. I know that is all crystal ball stuff and hearing this week that there might not be as many rate cuts this year as anticipated.
I'd like to hear some thoughts.
Thanks in advance
G