I know the key post for specific queries on early repayment is here but it's been a few months since it was active. I've also searched the form but can't locate a post with a similar query. I've also called the bank we have a mortgage offer with and they couldn't answer my query - said they could only answer once I start the mortgage.
Doing a self build. Mortgage of €350k. Have €100k in cash. Taking out a larger mortgage to avail of the HTB. Plan to use the €100k to pay off lump sum ASAP. Six draw downs on a 1 year FR with BoI. First five will be €58k each, last one €60k.
Query is what the early repayment fee would be if we draw down the first €58k on the FR, then repay it immediately?
We have the option to do a split mortgage, with €100k on variable, so we could pay it off immediately after draw down. But if we go with a FR on the full €350k, then we get €7k cashback, versus €5k on the split.
I've found the formula BoI use the calculate the early repayments but I don't know where to source the data they use for this. Is this data publicly available?
Doing a self build. Mortgage of €350k. Have €100k in cash. Taking out a larger mortgage to avail of the HTB. Plan to use the €100k to pay off lump sum ASAP. Six draw downs on a 1 year FR with BoI. First five will be €58k each, last one €60k.
Query is what the early repayment fee would be if we draw down the first €58k on the FR, then repay it immediately?
We have the option to do a split mortgage, with €100k on variable, so we could pay it off immediately after draw down. But if we go with a FR on the full €350k, then we get €7k cashback, versus €5k on the split.
I've found the formula BoI use the calculate the early repayments but I don't know where to source the data they use for this. Is this data publicly available?